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If half the working class is on food stamps today it is because liberals sent all the good union manufacturing jobs overseas in the seventies and eighties, and were proud of it.
 

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If half the working class is on food stamps today it is because liberals sent all the good union manufacturing jobs overseas in the seventies and eighties, and were proud of it.
And they cut patent protection for pharmaceuticals, then act surprised that the vaccine capacity left the country.
They need to realize their actions have consequences.
 

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Of course Walmart's accountants deploy all kinds of tax dodges and loopholes, legal and often illegal, to reduce their taxable income to the lowest possible number. It is a testament to their skills that they can turn $169 Billion in profits into $6 Billion in "net" income. That is the game they play.
You need to take an accounting course....and pass.
 

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I need to get Walmart to do my taxes and reduce my "net" income from $xxx,xxx to $x.
That's easy, hire someone and pay them for the work they do, maybe even health insurance.

Those are the "accounting tricks" that Walmart uses.
 

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My post was accurate, but you did prove my point.

Of course Walmart's accountants deploy all kinds of tax dodges and loopholes, legal and often illegal, to reduce their taxable income to the lowest possible number. It is a testament to their skills that they can turn $169 Billion in profits into $6 Billion in "net" income. That is the game they play.

That is nothing new for Walmart. They have been doing it for years. Any google search shows they got caught in Mexico, set up shady corporations in Hong Kong and have offshore accounts in tax havens all over the world, and no doubt there is a lot more that hasn't been found.

I don't pretend to understand Walmart's balance sheet. That would take teams of expert forensic accountants to dig through it and follow the money trail.
No, you're wrong.

$129B gross profit is not real money in their pocket. They buy XBoxes and Corn flakes for $500 (money that goes to Microsoft and Kelloggs) and sell them for $600=$100 gross profit. That is before they pay a dime for the store that they sold the product in, before they paid for the cashier operating the register, the clerk who put it on the shelf, the truck driver who delivered it, the warehouse workers who handled it, the merchandizers who worked with the vendor to buy the products, the advertising to bring the customers in the store, the software developers and IT staff that make all the systems work,. etc. etc. etc.

At best you could look at EBITDA. Gross profit is just wrong. EBITDA is their profit after they pay all their bills and staff but before they set aside money for income taxes, replacing their worn out equipment/systems/stores, and paying interest on their debts. If you don't replace your worn out equipment, pay your taxes or your debt interest, you don't have a sustainable business either.

Using gross profit is laughable.
 

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I need to get Walmart to do my taxes and reduce my "net" income from $xxx,xxx to $x.
I think part of the problem is you don't understand accounting so conclude it must be all voodoo and manipulation. It's not magic. Sure, accountants/lawyers can make a difference on the margin with some aggressive strategies to reduce taxable income, but they can't just make stuff up. Beyond that, all those strategies are to reduce taxable income on their tax filings with the government, which is a separate set of books from their financial reports that they report to investors (and where you plucked the gross profit number from). Generally, companies want to make their net income look bigger, if anything. That's what supports a higher share price through Price/Earning ratio and what executives get compensated for.

So Walmart's 2.86% net income margin was them trying to make their income look as good as they can get away with under accounting principles. It is nonsense that a company would want to hide profits from their current/prospective investors.


I would also say that you don't need a university degree or even an accounting course to understand the basics of this. You could watch a youtube video that would give you a pretty good explanation of all this in under an hour, if you cared to learn. I always found that learning how the world works is very empowering.
 

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Tax evasion 101.

 

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Yes, it is informative but only the tip of the iceberg.

Walmart borrows from itself and pays interest to itself.

Walmart rents property from itself.

Walmart creates a ficticious company in China to avoid billions in taxes.

Walmart cheats local municipalities and States out of tax dollars.

The Walton family created tax dodges to avoid estate taxes.

And on and on and on........


If anyone feels obligated to defend these corporate pirates..........have at it.
 

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Those don't follow each other.
If one country gives you 10 years of patents and the other
Yes, it is informative but only the tip of the iceberg.

Walmart borrows from itself and pays interest to itself.

Walmart rents property from itself.

Walmart creates a ficticious company in China to avoid billions in taxes.

Walmart cheats local municipalities and States out of tax dollars.

The Walton family created tax dodges to avoid estate taxes.

And on and on and on........


If anyone feels obligated to defend these corporate pirates..........have at it.
Well they could always fix the tax laws.
The problem is that the government creates all sorts of unfair rules to encourage/discourage particular behaviour, and the companies use the laws to their benefit.

The problem is that the governments are scheming to benefit friends, and steal the business or tax revenue from each other, without breaking the various agreements with each other.
 

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The fiscal update by FM Freeland has raised criticism and condemnation by conservative politicians and conservative media alike.

So much so, that conservative politicians question her background and competence and conservative supporters have taken to criticizing Freeland's gender, stature, the clothes she wears, her hair and hand gestures and even the size of her booty.

But, when asked by the media what their solution would be, the conservative politicians respond with "we aren't the government so we don't need a plan".

I find that an unacceptable answer from a political party that hopes to become the government. If they have an alternative solution..........let's hear it.
 

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The fiscal update by FM Freeland has raised criticism and condemnation by conservative politicians and conservative media alike.
Not the conservative media at all...

And with the deputy minister, with a long history of working with reds and blues walk away immediately. You know they are also criticizing it.
 

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I think companies make vaccines where it is most cost effective to do so (good infrastructure, availability and cost of skilled workers, tax and regulatory regime, proximity to markets) and not based on patents, which would apply whether they make the vaccine there or not. I don't think big businesses like pharma make decisions out of spite when it hurts their pocket book.
 

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The fiscal update by FM Freeland has raised criticism and condemnation.................
Seriously sags, you should take a pause when you read that Finance Canada's top bureaucrat announces departure a day after the government's fall economic update. Even with your devout socialist blinders on, you have to take notice when Finance Canada’s highest-ranking bureaucrat for the past six and a half years, announced he's leaving with less than 2 weeks notice immediately after Freeland's speech.

Fine, Bill Morneau resigns as finance minister and you can somehow justify this, but this latest exit must create some small doubt in your mind about how bad things have gotten in this completely inept government?

You're a smart guy - wake up.........

ltr
 

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I doubt Mr. Roche left because of the fiscal update, as it says in the article that he helped develop it.

Morneau......perhaps he was unhappy with the direction of the finances. Or, since he resigned as an MP maybe he didn't like the public scrutiny of politics.

I liked Morneau, but it doesn't appear that he was particularly interesting in helping people living in his riding as an MP.

He just said......adios and left.
 

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No, you're wrong.

$129B gross profit is not real money in their pocket. They buy XBoxes and Corn flakes for $500 (money that goes to Microsoft and Kelloggs) and sell them for $600=$100 gross profit. That is before they pay a dime for the store that they sold the product in, before they paid for the cashier operating the register, the clerk who put it on the shelf, the truck driver who delivered it, the warehouse workers who handled it, the merchandizers who worked with the vendor to buy the products, the advertising to bring the customers in the store, the software developers and IT staff that make all the systems work,. etc. etc. etc.

At best you could look at EBITDA. Gross profit is just wrong. EBITDA is their profit after they pay all their bills and staff but before they set aside money for income taxes, replacing their worn out equipment/systems/stores, and paying interest on their debts. If you don't replace your worn out equipment, pay your taxes or your debt interest, you don't have a sustainable business either.

Using gross profit is laughable.
My kids run a small business, I remember last year my 7yr old having a discussion with a business professor about product margins and inventory management. These aren't difficult concepts.
 

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I doubt Mr. Roche left because of the fiscal update, as it says in the article that he helped develop it.
Its Paul Rochon, not Roche. And he was extremely unhappy with the "...future stimulus package worth up to $100-billion.."-----er slush fund.
 
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