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Anonymous
Anonymous asked in Business & FinanceTaxesUnited Kingdom · 4 months ago

Why don't they close legal / financial loopholes and make big business pay more tax?

Why don't they close all the legal loopholes and make big business pay more tax, to solve the economy crisis in respective countries. I don't get it? Am I naive? Make corporations like Amazon or google pay their due tax?

Update:

They don't really because their businesses are measured on pre-tax profits, less to go to share holders but business measured on pre tax profits

5 Answers

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  • 3 months ago
    Favourite answer

    I like ice cream, chocolatasscream

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  • 4 months ago

    Becasue the accountants used by big businesses are much better than the accountants used by the government.

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  • Amy
    Lv 7
    4 months ago

    Because the "they" is politicians who got elected (and hope to get re-elected) by spending a lot of money on campaign ads, and those big businesses contributed a lot of that money.

    And then there's state taxes. States compete with each other to attract businesses by offering lower taxes.

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  • 4 months ago

    Big business don't pay taxes.  They just raise the prices on things they sell.  

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  • 4 months ago

    You aren't naïve. You're ignorant , at least about taxes. If taxes are raised on corporations, corporations simply raise the prices for their products and services. A "loophole" is simply a deduction someone else gets that you don't so you feel the need to b**ch about it. If we had a flat tax with no deductions, exceptions or exemptions, would you be happy?

    • Amy
      Lv 7
      4 months agoReport

      Prices aren't that elastic.  If taxes are raised on corporations, those corporations will make less profit. Maybe as little profit as they were making in 2016 before their latest tax cut. Maybe even as little as they were making in 2001 before THOSE corporate tax cuts.

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