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.
Multinationals are excellent players of the global financial tax system, using "profit shifting" (through which operating profits are remitted to phony sister companies in tax havens as "licensing fees" or "management fees") to make it look like wildly profitable companies are losing money, making them eligible for tax relief and rebates -- thus it is […]
The British empire was a globe-spanning criminal enterprise that produced vast riches for England (and, to a lesser extent, Scotland and Wales) by stealing the lands of others while slaughtering and enslaving them; today the empire is in decline and the UK is no longer reliant on direct looting.
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 […]
There are few things more satisfying than the clickety-clack of an old keyboard. So old, in fact, that it’s really more of a typewriter sound and feel than that of a keyboard. But if you want to enjoy the benefits of both, check out this Rymek Retro Bluetooth 3.0 Mechanical Keyboard. Bringing you an impressive […]
There are plenty of productive ways to spend time while stuck indoors. While it’s undoubtedly fun to binge all 15 seasons of Supernatural or sink days of playtime into an Overwatch campaign, learning something new is definitely a more meaningful and long-term beneficial use of open hours. And if you’re going to invest time in […]
If you’ve ever had any musical aspirations — or even if your talent extends no further than turning on the radio — you’ve probably dreamed the “impossible” dream. You dream that maybe you could record some of your songs at home, post them online, build an armada of fan support, attract major label attention and […]