epicjim
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May 9, 2024 12:26 PM
epicjim
30739
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olivertheoctopus
Get fucked, Zuck
youreathing
The system needs to change. The system allows this. Why wouldn't they take advantage of this?
ThailandExpress
If the US didn’t have the Jones Act there wouldn’t be any US flagged ships or US Merchant Marine sailors at all
JustSomeDevGuy
Ah the Jones Act does a lot more harm than good
ThailandExpress
More harm to corporations that would rather hire Indian or Philippine sailors at less than $25 a day. Harms corporations that want to avoid paying required maintenance a US flagged ship requires or pay to ensure training regulations that keep ships from running into bridges
Lassannn
And people wonder why I root for the iceberg.
kaneinencanto
Or the Orcas.
PballQhead
When I lived in Manhattan I'd run by the Yacht Harbor (yes, that's it's official name) in Battery Park City; I can't recall ever seeing anything bigger than 50' or so with a US flag. The Cayman Islands were quite popular tho.
ZookyPooky
Yea but the Cayman Islands are really crowded. I think one of the buildings there has like 3000 companies in a 3-story building which is crazy. Good thing it's not a way to avoid taxes or anything.
PballQhead
Oh no no, you're quite wrong about that.
It's five stories, and it hosts over 40,000 companies: https://en.wikipedia.org/wiki/Ugland_House
Still, nowhere near that place in Delaware that has 285,000 companies… https://en.wikipedia.org/wiki/Corporation_Trust_Center
jwillustrat
That’s gonna trickle down, right? /s
Malinut
PapaJoeNH
This is precisely why "Trickle Down Economics" failed so badly. It was dependent on these people reinvesting gains in jobs and infrastructure. Instead they kept all the money for themselves in foreign banks and spent money on yachts , airplanes, and houses. Who could have seen that coming?
RARusk
Trickle Down Economics is a scam. On paper it sounds reasonable but in the real world it doesn't work. This is because the rich don't get rich by being nice. They exploit, steal, and kill for their wealth. So, if you give them tax cuts that are meant to create jobs and other good things for the people, they will just keep it instead. All Trickle Down Economics is meant for is to destroy the middle class and make the rich even richer than before.
PapaJoeNH
It succeeded wildly
VictusVonGuyver
Actually most keep their money in US banks because the tax loopholes are so good. They keep secret offshore accounts to avoid fees, not taxes.
Owning yachts is also a big investment scam on its own. But 3-4 yachts and taxes after. If your finances are frozen by any country, you are always be bet the sale on the yacht of at least half the value in a hurry. Yacht's aren't tracked that well and can be at any global port, so running to it for emergency funds or an overseas escape isn't that hard.
trippingthelightfantastic
BasinStreetDesign
He is interviewed by Steve Paikin on TV Ontario's show The Agenda. Kind of like PBS for Ontario, Canada only.
trippingthelightfantastic
AzgarOgly
GDP is an income number. Wealth is a value number.
Comparing apples to oranges gives up someone who either does not understand what they are talking about or does not care about being correct.
InkyBlinkyPinkyAndClyde
ThAt isN'T rEaL MonEy, It'S TiEd uP iN AsSEtS!!!!
Arbitrarynamehere
Damn so is a house and yet we figured out how to tax that too
truthader
HA I actually gasped at this
sad lol
UnkindledOne
Anyone know any tax loopholes for peasants to use to take advantage of the system? Texas, homeowner (just bought it a month ago, yes I know we made a huge mistake), married, no kids. What tax laws can I, a non rich Hispanic man, use to game the system? I know it was built specifically to hose people like me and help the rich become richer but surely there is something. So far all i have is my homestead exemption filed
truthader
Long run: trust-planned wills. More immediate: an LLC to own everything + rent to you. NB these are not mutually exclusive. Disclaimer: IANAtaxL and this is not legal advice.
DrBukkakeShots69
Can we stop posting shit like this. Since we ain’t gona do anything about it. And we’ve had enough awareness into these issues. I just wana see funny. Shit yo. No more of this useless bullshit. PLEASE😫😫
DUser01
Send in the Orcas.
jtxyz
DarkZoma
You can't just eat one. Gotta keep going and try out all new recipes on how to cook a billionaire.
thedarkcanuck
Sink that motherfucker
valiantaesir
mf could pay the taxes and never notice the difference, eat the rich.
RooGryphon
if i wrote tax law. you would have to physcally leave the country and live somewhere else to avoid taxes. the ship can be traced back to you, therefore it will be taxed. this is how you will not be avoiding it
TripleDane
I really have a pet peeves when people with so little knowledge on how things works comes in with what they think isa single line that fixes everything?
what do you define as live somewhere else? you need to tied that to something objective and metrical otherewise it can just be claimed.
Are you forbidden people in having vacation outside of their taxed country?
Tracked back to? how do you define track back to as Ownership? its not my ship im just borrowing it from a friend.
encyclopediabritannica
If y'all pull up marine traffic you'll see that's not unusual at all.
khold90
It's so incredibly standard that flying a US or Russian flag is honestly noteworthy for how out of place it is. Like megayacht Nord legit made news headlines for flying a Russian flag after the war on Ukraine started. Then in the same articles they talk about "oh, also superyacht Motor Yacht A is flagged under the Emirates".
BaconAlmighty
Just about every cruise ship flies under a non US flag
kaneinencanto
Most of the freighters probably, too.
sirava
And it's still shitty. Why do we normalize cheating?
TheCunningLinguists
Because they keep us all too busy trying to survive with wage-slave jobs, so we don't do anything about the people with the money bribing the people who make the rules.
pullingsixty
And commercial shipping vessels. Panama followed by Liberia hold the most flagged ships in the world.
BolenArrow
It's funny nobody seems to ever mention Bezos, Zuck, etc. all these mega billionaires are democrats donating to democrat causes and campaign funds... It's almost like there is a massive ruse being pulled on the left that they don't realize they are being tricked into believing the dems are on their side.
ATacoWalksIntoABar
Dodging taxes is a game when you have enough money to pay for the most cunning of accountants and lawyers. I don’t even believe they think of the consequences of their actions, they’re just playing a game of Catch Me if you Can.
keys79
These people are assholes for manipulating tax loopholes like this. But don’t forget, the real criminals are the people who put (and keep) those loopholes there in the first place.
annnnonny
You guys are uninformed.. people don't fly us flags on their yachts for reasons other than taxes.. i don't even know what taxes he might be avoiding.. to fly a US flag there's a lot more rules you have to follow.. Like i think you legally can't have more than 12 passengers on board, all them have to be US citizens.. I'm not a yacht expert, so you might want to look it up, but taxes aren't the concern.
Poppypoppoppop
Are Orcas for hire ? Oh completely unrelated to this post
TheDaharMaster
Bout to call the orca homies.
ViolentlyJaded
This is why you must simply eat your billionaires and not play with them. Your billionaires are getting cold. No more playing, just eat.
[deleted]
[deleted]
SimiKusoni
Eh given the way sentiment is turning I wouldn't be so sure, the real indicator will be whether millennials voting habits falter as they begin inheriting all their parents wealth. If they don't I think we'll probably see some very aggressive measures taken to combat inequality over the next few decades, if not quite class-based cannibalism.
5m4llP0X
I genuinely wish someone would kill a few billionaires. They're among the worst kinds of humans.
basiccricket8444
Sorry homeless people, I need near infinite wealth I quite literally can't spend fast enough
5m4llP0X
Wow, I was expecting to get downvotes to hell for my comment. I guess it's becoming more popular.
CerisCinderwolf
Most of us genuinely wish they were getting cold by now.
Ausmerica
Fetch my extra large blunt knife.
BaconAlmighty
Just like almost 'every' cruise ship in America.
ZookyPooky
They're based in those other small countries so they can avoid lawsuits, plain and simple.
BEARD3DBEANIEE
and those same cruise ships wanted BAIL OUT MONEY DURING COVID, I can't remember if they got it or not
Tarmaccian
No, the ships didn't ask for bailouts. The US-based companies hiring US-based employees asked for assistance covering US-based expenses. Those companies also happen to own foreign-based ships, but that's not really relevant at all.
BEARD3DBEANIEE
oh ok, I was wrong. Idk what I read back then tbh.
Magjee
Liberia, the country America made in Africa that the wealthy then used to generate companies in. See, when they do it, it's all legal.
xfunk
Let’s sink it
hotdoginathermos
Me, reading a news report that his boat caught fire while in shark infested waters
iusedtodream
EaNasirIsABastard
I've been sinking ships for years, but I don't know how this helps me watch free movies online. Can anyone help?
xfunk
Get the kodi app. Then google “best kodi addons may 2024”.
Congrats. Free everything. Netflix, Disney, paramount, all sports and much more
EaNasirIsABastard
Ohhh, I will try this out. I was just using like ww3.FreeMoviesNoVirus2.kp
Ultratoxic
We should sink it
graehall
the parasite class continues to do what it does best, take everyone's money and pay nothing back
ochnoe
BobsBurgerslurker
Eh don't worry. The apologists are at the bottom of the thread.
graehall
Hard for them to speak with the billionaire boot so far down their throat that the aglets are hanging from their assholes
ItsCaptain0bvious
If I understand physics correctly, in order for the heavily disproportionate wealth to trickle down, we need to drill a big hole in the yacht's hull, preferably with the owner(s) inside.
livingonagiantfireball
Exactly what i think, im sure there is some scubba diver out there with underwater drills that could help make their life more difficult. But i would think a small container fill with black power would work better.
busymodelling
Ask the French, they know how to attach limpet mines.
InoffensivePablum
It’s gonna trickle down, you uncultured swine! Ronnie Raygun told us this! Why are you being so obtuse!
Styxwash
But that dear man gave us facebook! Are you not grateful?
Ilikestyx
Hey, he gave money to have a hospital named after him.
aloharamada
That's cool and all, but one still has to wonder how many hospitals could be built from all the tax money he should be paying.
Styxwash
Isn't that what most billionaire charity is for? So they can point and say they are still good guys, even though they play the system and steal 100x the charity given.
Catsbycat
I don't get it. They can very well afford to pay taxes and won't even hurt at all. Boggles my mind.
thegrouchohandleisunavailable
"Greed, for lack of a better word, is good. Greed is right. Greed works." Gordon Gekko, Wall Street, 1987’
RatFromADifferentSewer
You don't get to be that rich by doing the right thing
thegrouchohandleisunavailable
Someone who makes £/$ 500k/year will feel their taxes much more than that prick. Both need to pay fair taxes.
MediocreExtremist
because you look at it with logic. They are ill. Excessive hoarding is an illness. Greed is a mental illness. And glorified by their peers
d1d1t4t3hlulz0hl4wdy
You can thank the Reagans for that one. Oh and the 'war on drugs'.
Whitebeardthepirate
to this day I will always believe Lewis Black said it best: "the problem with the wealthy is that they're all under the same delusion. They all believe that whomever dies with the most stuff, wins"
BellsTheorem
Greed.
GrumpyOldMan55
Did he ever claim to be a patriot? There's plenty to complain about with Zuck without making stuff up.
PoorSucker
Isn't he he a zubberbuorg
gitguuud
In reading the article referenced, I saw an embedded Tweet from Laura Loomer. Made me throw the article away in my brain. While I believe billionaires do shitty things, referencing a fascist as proof is a good way for me to ignore the points you were making.
Frostycopper
It means it's registered to a foreign government I believe, not paying taxes on it here
GrumpyOldMan55
I'm fully aware what it means. I'm trying to figure out why they're calling Zuck a patriot.
license2kilt
I think it was meant sarcastically but you probably knew that.
kaneinencanto
Sarcasm maybe?
MacCrack
Most people in the us are indoctrinated from a very young age to believe that their country is some holy land and that the people at the top reached that position because of their contributions to it.
Salticido
In my experience, the expectation is that everyone is or ought to be a patriot in the US, and that harrassing non-patriots is a patriot's duty.
mezzidriel
Not claiming to be a patriot and actively dodging taxes are two different things. One is a political stance, the other is (or should be) illegal.
jac1
The US can't really tell Panama (or some Caribbean nation, or whoever) not to allow people to register their boats there.
AzgarOgly
US can really tell Panama anything they want. They actually did in 1989.
The other question is, if it is worth the expense. Obviously not.
lljkstonefish
Of course not. But they can make it financially unpleasant to own a boat registered in such a way.
AzgarOgly
Currently US is a home for lots of industry giants. Including Zuks companies. Plenty of countries would gladly make life of the business owners less financially unpleasant. I really don't think Zuk would hesitate to move the FB to UK, Japan, Singapore or wherever. He already did that to his yacht.
thegrouchohandleisunavailable
If he tries to personally rellocate, IRS will absolutely flay him. IIRC Eduardo Saverin took a massive haircut when he left for Singapore. If FAANG try to move their HQs, I wonder if there won't be some turnover tax/minimum tax rate they'll get forced to pay to operate on US soil. And good luck moving, don't let the door hit them on the way out. Cause that's a lot of talk by the uber-rich, while there already are far more favourable tax locations.
bolshevikmuppet
Love that logic. Here's the thing, though- they don't live elsewhere. It seems like you're saying we shouldn't tax evasion, particularly when it's the people we need to tax to fix our country. Seems backwards to me.
lljkstonefish
He's already mega-rich. You gotta get these pricks when they're just starting to get the cash train rolling and give them a choice. If they want to operate out of some lightly-taxed shithole, they can go live there.
Zuck is rich enough to live comfortably in Siberia.
Tom40
Are any of the big cruise ships US flagged? Not really a big surprise here.
ideasbychuck
That's so they don't have to abide by US work regulations etc.
FrankPoncharellodoesKaraTe
Flags of convenience is the term that covers what you are observing. See Panama 🇵🇦 , Liberia 🇱🇷 , and Marshall Islands 🇲🇭 https://www.statista.com/chart/amp/29086/flags-of-convenience/
MagicBeets
Booooooo!
marsgoose
Because US treats US flagged vessels worse than foreign ones. And not just on taxes. I wouldn't have anything bigger than a recreational boat US flagged.
azgrak
We don’t build ships or sailboats in the US either, for the same reason. Taxes on them here are much higher. We used to but it changed with a luxury tax that specifically hit the boat industry. They all either shut down or moved overseas.
sfbiker
We do if they are used to serve American ports exclusively -- the Jones Act requires it. And the government co-signs the loan because banks don't want to back a loan for a ship built at expensive American prices, they can't resell it on the global market at that price.
RVAALLDAY
I believe rccl is out of Nassau so, same thing
jac1
No and neither are commercial ships. The only vessels bigger than a catamaran that are US flagged are those that operate within the US, not internationally.
gesel
The point of the post is not about facts or reason, it is about "otherizing" part of American society and inspiring internal conflict. Note comments parroting the Nazi use of (((parasites))), a standard historical reference to dehumanize people branded as enemies of the volk. As the election draws closer, the GRU and PLASSF are dramatically ramping up their strategic messaging to achieve effects like the Gaza protests, which will help ensure Trump's victory.
etcnotect
I think the American navy still has ships with US flags bigger than a catamaran
lemmerustlethosejimmies
I believe this is due to the Jones Act. Causes fuckery with transport between US ports.
Troldann
Without the Jones Act, there probably wouldn’t be any vessels flagged for the US. But also you’re absolutely right.
zimirken
Just looked at cruises. 5 day cruise up the Mississippi was >5k a person, 8day cruise in the gulf was <700. I was like wtf.
080080
anyone who is even ancillarily familiar with maritime law would understand why the flag isn't a big deal.
Nobody7713
Most of them fly the Bahamain flag and call Nassau their home port.
zerovanity59
Pride of America is. It usually makes week long cruises around the Hawaiian archipelago.
certainlynotaserialkiller
that one flies a US flag because they have to because of the route it travels (only between US harbours).
mikeatike
It screws cargo ships going to Pureto Rico and Guam, too.
certainlynotaserialkiller
its almost like its on purpose
mikeatike
Like I can understand the original intent in like the 1800s. They didn't want foreign powers to kill off domestic shipping by undercutting. But in the 21st century its just intentionally applied wrongly to hurt people for no reason.
Cookiesnm1lk
yeah that's the only one, at least according to google.
mikeatike
Because they have no choice, it leaves and ends at Hawaii, and there's no other ports nearby. This is why cruises from Seattle to Alaska always stop in a port in Canada along the way.
FweejTheOverseer
Legally they have to stop at an international port of call in order to be flagged internationally. Since the Pride of America only sails Hawaii, it flies the US flag mostly due to there being a lack of foreign countries near Hawaii.
pyroshen
Imagine if they popped over to Vancouver for a day just to get that different flag, eh
mikeatike
It would take 8 days to reach Vancouver at 20 knots. Not much better if you took the fastest ocean liner, Queen Mary 2 at 30 knots.
abc987
I'd think that would make the taxes higher.
Uandi82muchBeer
But is it right? Is it fair? For us poors even if you retire to another country we have to pay US federal taxes on SS, 401k withdrawals etc.
coopeBugRunner
Yea so unfair to pay taxes on money the government gives you or allows to grow tax free in the best stock market in the world
Psychobeanz
Wow. SS is just given to me? Thank fuck. I was under the impression that I pay into it every time I get a paycheck at work. I'm just going to quit my job now if it comes for free in the end. Thank you for your insight!
coopeBugRunner
Yep you do . And if you make less than 50K a year you get out more than you ever put in
Psychobeanz
Dang! I'm going to quit not just my job but your job, too!!
EveryGOPAccusationIsActuallyAnAdmission
Um... The government doesn't "give you" the SS. Us workers pay into it the whole time. We paid into it, we get to pull out of it. The point is that the system is set up to allow billionaires to take advantage and pay next to 0 in taxes while everyone else has to hold them up. Eat the rich.
coopeBugRunner
People that make less than 50K a year get out more than they ever put in
EveryGOPAccusationIsActuallyAnAdmission
And I have absolutely zero problem with that.