And they cut patent protection for pharmaceuticals, then act surprised that the vaccine capacity left the country.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.
You need to take an accounting course....and pass.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.
No, you're wrong.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.
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.I need to get Walmart to do my taxes and reduce my "net" income from $xxx,xxx to $x.
If one country gives you 10 years of patents and the otherThose don't follow each other.
Well they could always fix the tax laws.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.
Not the conservative media at all...The fiscal update by FM Freeland has raised criticism and condemnation by conservative politicians and conservative media alike.
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.The fiscal update by FM Freeland has raised criticism and condemnation.................
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.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.