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Huge fines to corporation criminals are actually tax deductible

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Huge fines to corporation criminals are actually tax deductible Empty Huge fines to corporation criminals are actually tax deductible

Post by Ben Reilly Wed Mar 11, 2015 11:31 pm

Huge fines to corporation criminals are actually tax deductible 3755771736 Huge fines to corporation criminals are actually tax deductible 3755771736 Huge fines to corporation criminals are actually tax deductible 3755771736 Huge fines to corporation criminals are actually tax deductible 3755771736 Huge fines to corporation criminals are actually tax deductible 3755771736 Huge fines to corporation criminals are actually tax deductible 3755771736

For example, oil giant BP certainly wreaked havoc with its careless oil rig explosion in 2010, killing 11 workers, deeply contaminating the Gulf of Mexico and devastating the livelihoods of millions of people along the Gulf coast. So, BP was socked with a punishing payout topping $42 billion. But -- shhhh -- 80 percent of that was eligible for a tax deduction, a little fact that's been effectively covered up by the bosses and politicians.

This crazy quirk in America's laws to deter corporate crime forces victims to help subsidize criminals. Follow the bouncing ball here: First, a court orders a corporation to pay punitive damages to a victim of its criminal acts; second, the corporate offender pays up, and then merrily subtracts a big chunk of that payment from its income tax, effectively taking money out of our public treasury; third, while the criminal is counting its tax break, the victim is notified that the punitive damage money he or she received from the corporation will be taxed as "regular income;" fourth, that means a big chunk of the victim's payment goes into the treasury to replenish the public money the corporate villain subtracted.

http://www.alternet.org/economy/shocking-tax-loophole-corporations-commit-crimes
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Huge fines to corporation criminals are actually tax deductible Empty Re: Huge fines to corporation criminals are actually tax deductible

Post by Guest Wed Mar 11, 2015 11:33 pm

Consider my gob well and truly smacked!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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Post by veya_victaous Thu Mar 12, 2015 12:38 am

Huge fines to corporation criminals are actually tax deductible Funniest_Memes_merica_16954
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