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loeg | 3 days ago

You can't just throw revenue in the denominator, though. Business tax is assessed on income. If you're going to make a claim about tax rate using an unconventional metric, you need to be explicit about what you've done; Reich isn't.

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gojomo|3 days ago

If you're Robert Reich, you can! You can make up anything, and someone will submit it to HN to waste everyone's time!

Refreeze5224|3 days ago

Yeah, screw Robert Reich! Always looking out for the workers who make up the majority of this country. Why won't he look out for the poor multi-national corporations, who have no one to advocate for them or their tax rates?

MichaelZuo|3 days ago

I thought there were systems designed to effectively negate users that submit too many misleading posts.

samrus|1 day ago

It was income you dicks. Someone above crunched the numbers. Why do you hate rob reich so much your willing to make shit up and get mad at him about it?

TrainedMonkey|3 days ago

Sure, and there are a ton of ways to shifting income around. For example selling a subsidiary in lower tax jurisdiction patents and then paying for their usage. Another example is Hollywood accounting where productions pay exorbitant rates for equipment and catering to affiliated companies. This inflates the costs so the movies end up unprofitable despite smashing box office.

shevis|3 days ago

Income != profit. Income is revenue. It sure would be nice if businesses were taxed on income, given that’s how people are taxed and all. Aren’t corporations supposedly people now thanks to citizens united?

quietbritishjim|3 days ago

> Business tax is assessed on income.

Income (in a business) is another word for revenue. I think you meant: business tax is assessed on profit.

beezle|3 days ago

This is incorrect as anyone who has looked at a financial statement or taken a first level accounting class will know - Revenue is the top line, the gross income and lastly net income, the two reflecting the removal of various costs/expenses as per GAAP.