Like many other corporations, Airbnb and Uber use offshore shell companies to avoid taxes. The companies aren't profitable yet, but they have set themselves up to avoid taxes once they become profitable.
For years, pharmaceutical and tech companies including Pfizer, Merck, Google, and Apple have slashed their U.S. federal tax bills by using offshore tax havens and shifting profits abroad. Airbnb and Uber are starting to extend this strategy across vast new fields: PricewaterhouseCoopers estimates that sharing-economy businesses generated $15 billion in revenue in 2014 and will take in $335 billion in 2025, growing largely at the expense of companies that pay billions in U.S. taxes.
Bloomberg: The Sharing Economy Doesn’t Share the Wealth
Naomi Klein's l(ooooo)ongread in The Intercept about the state of play in Puerto Rico is the comprehensive summary of the post-Maria fuckery and hope that has gripped America's colonial laboratory, the place where taxation without representation, austerity, chemical weapons, new drugs, and new agribusiness techniques get trialed before the rest of America are subjected to […]
David Lesperance is a Canadian-born lawyer who specializes in helping the super-rich secretly buy foreign citizenship so they can escape taxation at home.
Oxfam has released the latest version of its ongoing series of analyses of the relative net worth of the very richest when compared to the very poorest: in this case, they found that the top 1% of Britons own more wealth than the bottom 20% of Britons combined.
It’s 4/20! Smoke ’em if you got ’em – and if you haven’t got ’em, check out this roundup of deep discounts on pipes and other accessories. They’re all on sale, but you can take an extra discount off the final price courtesy of the Boing Boing store by using the online code 420SAVE. Freeze […]
Ever wonder if you’re cleaning your teeth well enough? If your last dentist visit has you getting a little more thorough about oral care, it might be time to save yourself some guesswork. A lot of electric toothbrushes promise deep cleaning, but there’s a Platinum Sonic Toothbrush that has power plus the simple but effective […]
The digital age is well and truly upon us, but let’s not forget there’s a load of free TV content floating literally over our heads. No, we’re not talking about the internet. Signals from major broadcast networks are still gratis for anyone who can pick them up with an antenna. And before you envision those […]