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this post was submitted on 26 Apr 2024
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Another one of those frustrating segments where they come so close to being right but miss the point entirely by the end. The diagnosis of the issues young people face is on point, but the answer to most of the problems mentioned is not civics courses. It's redistribution of wealth and providing access to housing and social mobility to young people.
Civics courses are necessary precursors. A lot of youthful idiots think Biden has a big "cancel student loans" button on his bedside table and just chooses not to push it because lmao fuck those guys, make em pay
You can't pursue solutions if you don't know how.
Yeah it’s easy to demand things, it’s hard to accept mutual responsibility and contribute. It’s the difference between demanding mutual aid, and actually showing up
There are 38 US companies whose gross yearly revenue is over $100 billion. The collective amount OVER $100 billion is about the same as the US federal budget. No company should make more than $100 billion in revenue - it's a monopolistic action. Tax all corporate revenue over $100 billion. How much is a variable amount based upon federal deficit spending. If the US government overspends $1 trillion then that amount is paid by these too large corporations. That way US politicians are disincentivized to over spend as the largest corporations will lobby strongly to have a balanced budget. If all US companies downsize or split off to reduce revenue to <$100 billion? Awesome, then we have no monopolies and their lobbying powers are therefore greatly diminished.
Revenue is not profit. Costs haven't been taken out yet. This is part of the structural unfairness of personal income tax vs corporate income tax. Companies can write off everything they need to earn money (rent, supplies, wages, utilities) but people can't.
How many companies have $100 million in profit, or more? It's just one: Apple.
https://www.financecharts.com/screener/most-profitable-country-us
They're already under investigation for monopoly practices:
https://www.nytimes.com/2024/03/21/technology/apple-doj-lawsuit-antitrust.html
If they didn't count expansion and buying property and tools with reliable resell values as "costs" I'd agree.
Businesses can't deduct those asset purchases as costs (they are not "expenses"). They have to depreciate them over a set number of years, according to established accounting practices.
https://www.thebalancemoney.com/expense-or-depreciate-items-on-your-taxes-392950
This is fine and actually correct, because equipment and buildings literally cost money every year to repair or replace parts.
There are enough things to be angry about without making anything up. Please educate yourself about what businesses actually do, so you can advocate correctly. Otherwise you just sound dumb.
Lol, sucker
I don't care of costs haven't been taken out. Tax it at some low rate (ie 1-5%). Again, no company should revenue >$100 billion/year anyway because, as you've stated, it's pretty much a monopoly at that point.