6 ms·

I hope this isn't true. I'm very upset reading this.

by mnemotronic 2y ago

billy99k 2y ago
Why? Many are reporting losses. Do you expect them to pay taxes on something other than profit?
- like_any_other 2y ago
  > reporting losses "According to Lucasfilm, Return of the Jedi (1983) "has never gone into profit", despite having earned $475 million at the box office against a budget of $32.5 million." - https://en.wikipedia.org/wiki/Hollywood_accounting https://en.wikipedia.org/wiki/Hollywood_accounting
  - kylehotchkiss 2y ago
    All this while our country has already cut antiretrovirals for children in Africa with zero warning or opportunity for private org or another country to take over. Our legacy as a country is going to look pretty gross.
    - gottorf 2y ago
      Yeah, pretty gross of the American taxpayer to not work harder to make you feel better about yourself being an American.
      - ashoeafoot 2y ago
        Your son is a sex tourist, your daughter has it from a hostel stay too and you got it frim agnes, the secretary. And yes, your dick may rot off, cause everyone in the world is 5 "IdontGiveAFucks" away from it. Inability to deal with a complex world does not make it go away. Its like stopping to pay rent to saving up for a house.
    - octopoc 2y ago
      America shouldn’t have been spending money on that in the first place. Our role in this world should be to put ourselves first, just like every country is already putting themselves first.
      - snypher 2y ago
        Why do we keep giving money to that one country then? Because the political benefits pay off for the politicians. So those same benefits could apply from foreign medical aid, but we don't value helping others less fortunate?
        wao0uuno 2y ago
        I find it both hilarious and sad that people are afraid to say Israel these days.
        octopoc 2y ago
        Ugh I hate that as well! But unfortunately they have bought our politicians. I’m hoping that after Trump both sides can bow up popular pressure to stop supporting them. In younger generations in both the left and right there is less star struck awe at the mention of that country, so I’m hopeful.
      - maxerickson 2y ago
        Never mind that spending small sums of money to help control disease in other countries is pretty beneficial to America, diseases don't respect imaginary border walls.
        gottorf 2y ago
        > diseases don't respect imaginary border walls A non-imaginary border wall might work, then. Control the movement of the vectors of disease and you control the spread of the disease.
        consteval 2y ago
  - parineum 2y ago
    The implications of this is that that money was never taxed which is likely untrue. Just because the money left Lucasfilm, doesn't mean it wasn't taxed. There's a reason why the IRS isn't going after them. So called "Hollywood accounting" is a lot more about screwing actors out of royalties than it is about not paying taxes
    - like_any_other 2y ago
      The implication is that "reported losses" don't have anything to do with actual losses. Citing the corporations creative accounting results convinces no-one.
- financetechbro 2y ago
  This is all just accounting nonsense and tax loopholes. Did you even read the article? FTA: > Merck reported a loss of almost $2 billion in the U.S. while making $22 billion abroad. Johnson and Johnson reported losing just under $500 million in the U.S. while making $17 billion abroad. Pfizer reported U.S. losses of around $500 million while making $9 billion abroad. AbbVie apparently lost nearly $8 billion in the U.S. while making over $11 billion abroad (mostly in Bermuda) and Bristol Myers Squibb reported a loss of $15 billion in the U.S. (tied to the accounting of an acquisition) and $6.5 billion of foreign profits.

I hope this isn't true. I'm very upset reading this.

billy99k 2y ago

Why? Many are reporting losses. Do you expect them to pay taxes on something other than profit?

like_any_other 2y ago
> reporting losses "According to Lucasfilm, Return of the Jedi (1983) "has never gone into profit", despite having earned $475 million at the box office against a budget of $32.5 million." - https://en.wikipedia.org/wiki/Hollywood_accounting https://en.wikipedia.org/wiki/Hollywood_accounting
- kylehotchkiss 2y ago
  All this while our country has already cut antiretrovirals for children in Africa with zero warning or opportunity for private org or another country to take over. Our legacy as a country is going to look pretty gross.
  - gottorf 2y ago
    Yeah, pretty gross of the American taxpayer to not work harder to make you feel better about yourself being an American.
    - ashoeafoot 2y ago
      Your son is a sex tourist, your daughter has it from a hostel stay too and you got it frim agnes, the secretary. And yes, your dick may rot off, cause everyone in the world is 5 "IdontGiveAFucks" away from it. Inability to deal with a complex world does not make it go away. Its like stopping to pay rent to saving up for a house.
  - octopoc 2y ago
    America shouldn’t have been spending money on that in the first place. Our role in this world should be to put ourselves first, just like every country is already putting themselves first.
    - snypher 2y ago
      Why do we keep giving money to that one country then? Because the political benefits pay off for the politicians. So those same benefits could apply from foreign medical aid, but we don't value helping others less fortunate?
      - wao0uuno 2y ago
        I find it both hilarious and sad that people are afraid to say Israel these days.
      - octopoc 2y ago
        Ugh I hate that as well! But unfortunately they have bought our politicians. I’m hoping that after Trump both sides can bow up popular pressure to stop supporting them. In younger generations in both the left and right there is less star struck awe at the mention of that country, so I’m hopeful.
    - maxerickson 2y ago
      Never mind that spending small sums of money to help control disease in other countries is pretty beneficial to America, diseases don't respect imaginary border walls.
      - gottorf 2y ago
        > diseases don't respect imaginary border walls A non-imaginary border wall might work, then. Control the movement of the vectors of disease and you control the spread of the disease.
        consteval 2y ago
- parineum 2y ago
  The implications of this is that that money was never taxed which is likely untrue. Just because the money left Lucasfilm, doesn't mean it wasn't taxed. There's a reason why the IRS isn't going after them. So called "Hollywood accounting" is a lot more about screwing actors out of royalties than it is about not paying taxes
  - like_any_other 2y ago
    The implication is that "reported losses" don't have anything to do with actual losses. Citing the corporations creative accounting results convinces no-one.
financetechbro 2y ago
This is all just accounting nonsense and tax loopholes. Did you even read the article? FTA: > Merck reported a loss of almost $2 billion in the U.S. while making $22 billion abroad. Johnson and Johnson reported losing just under $500 million in the U.S. while making $17 billion abroad. Pfizer reported U.S. losses of around $500 million while making $9 billion abroad. AbbVie apparently lost nearly $8 billion in the U.S. while making over $11 billion abroad (mostly in Bermuda) and Bristol Myers Squibb reported a loss of $15 billion in the U.S. (tied to the accounting of an acquisition) and $6.5 billion of foreign profits.