Mining firm Rio Tinto sorry for destroying Aboriginal caves (2020)

Re:Mining firm Rio Tinto sorry for destroying Aboriginal cav... by wizzwizz4 on Wednesday July 28, 2021 @03:50PM (#27988878)

Fines are tax-deductible. They're better at gaming the system than policymakers are at fixing it.

[ Parent | on HN ]

Re:Mining firm Rio Tinto sorry for destroying Aboriginal cav... by bpodgursky on Wednesday July 28, 2021 @04:41PM (#27989444)

1. That's literally not true, you're just making stuff up: https://www.investopedia.com/ask/answers/102915/are-irs-pena...

2. Even if it was, do you understand what a deduction is? You still lose money; you'd be changing the base on your federal income payments, but since your income tax is at most 40% or so, you're still paying at minimum 60% of the penalty (even if it was deductible, which it is not).

[ Parent | on HN ]

Re:Mining firm Rio Tinto sorry for destroying Aboriginal cav... by wizzwizz4 on Thursday July 29, 2021 @03:17PM (#28000255)

1. That's a very specific type of penalty.

2. Business taxes aren't the same as individuals taxes.

[ Parent | on HN ]