Re:Mark Zuckerberg tried philanthropy before, stumbled and l...
by mordrax on Tuesday December 08, 2015 @08:28AM
(#10696173)
Who are the people that can fix complex systems? If a group of people like this exists then why do we still have broken complex systems?
I think that the more influence and wealth you wield, the better your chances are of 'fixing' a system and I think what they are trying to do is more commendable than what the majority of us do with our spare time and cash.
Re:Mark Zuckerberg tried philanthropy before, stumbled and l...
by pyvpx on Tuesday December 08, 2015 @10:40AM
(#10696974)
Facebook avoids taxation just like Google, Apple and countless other multi-national corporations. You don't even have to be in the Unicorn club to make entirely legal tax avoidance schemes a worth while endeavor. Call up EY, PCW, or really any law firm/accountant/tax advisor and you too can enjoy an effective tax rate in the low teens or even lower.
They do pay taxes. They play loopholes in numerous jurisdictions to avoid tax as much as possible.
Why do they do that? Because everyone else does. Also they have a fiduciary duty to do so. Yes, it's technically, actually, illegal for them _not_ to avoid taxation as much as possible because, well, then they wouldn't be doing everything they can to maximize shareholder value.
I think that the more influence and wealth you wield, the better your chances are of 'fixing' a system and I think what they are trying to do is more commendable than what the majority of us do with our spare time and cash.
Please pay your corporate tax instead.
thanks, Planet Earth
They do pay taxes. They play loopholes in numerous jurisdictions to avoid tax as much as possible.
Why do they do that? Because everyone else does. Also they have a fiduciary duty to do so. Yes, it's technically, actually, illegal for them _not_ to avoid taxation as much as possible because, well, then they wouldn't be doing everything they can to maximize shareholder value.