Arent they often paid in stock?
Comment on They eliminated cashiers and keep the profits. NY Democrats are fighting back.
lemonhead2@lemmy.world 15 hours ago
honestly just cap executive pay. nothing they can do then
jaybone@lemmy.zip 14 hours ago
krashmo@lemmy.world 13 hours ago
Define pay such that it includes stocks, bonuses, rebates, real estate, food, clothing, transportation, or any other item that can be exchanged, borrowed against, or otherwise converted to cash money. When they find a loophole just close it.
The problem with this isn’t the concept. It’s getting politicians to implement it.
jaybone@lemmy.zip 13 hours ago
It’s a pretty good loophole though. A stocks value is considered an unrealized gain when you receive it but don’t sell it. My company gives me stock, but I don’t sell it. If I had to pay taxes on that, I’d be fucked. Maybe they could create some kind of untaxed minimum based on some index. And possibly even brackets.
But of course there’s a reason they like it this way.
krashmo@lemmy.world 13 hours ago
Stocks are not a necessary piece of compensation for anyone. Besides, if you can borrow money from a bank using stocks as collateral then it is effectively a liquid asset that you absolutely should pay tax on. The simplest solution to that problem is simply to disallow stocks from being used as collateral.
Every loophole can be closed if we decide we want to. The ones that are still open were intentionally left open to benefit the rich.
Fiery@lemmy.dbzer0.com 10 hours ago
Except where I live you do actually have to pay taxes on stock you receive as a bonus, if you don’t have the cash on hand, you just liquidate part of the stocks.
Poppa_Mo@lemmy.world 13 hours ago
I think if they handled it in such a way that you borrow against it in any fashion, what you borrow is taxed. Kind of stupid it isn’t that way already, but here we are.
ChristerMLB@piefed.social 10 hours ago
Yep, this is one of the reasons we need a tax on wealth. If you’re wealthy enough you can also just borrow against your stocks at very low interest rates.
GenosseFlosse@feddit.org 12 hours ago
Surely the us president will get right on it drafting an executive order!
OwOarchist@pawb.social 14 hours ago
In fact, let’s just screw the whole thing and seize the means of production…
TIEPilot@lemmy.world 13 hours ago
Bang up idea, when have you ever seen the government run something correctly/efficiently?
krashmo@lemmy.world 13 hours ago
There’s tons of examples if you actually care to look. Trash pickup is an easy example. I’ve lived in places where it was managed by the city and places where it was run by private companies. The city always showed up on time and never raised prices without justification.
Guess what the private companies did on a regular basis? And if you want to talk about efficiency let’s consider whether or not it would be better to have four different companies running four sets of trucks on four overlapping routes through the city as opposed to one entity handling the whole thing. The only thing efficient about the private companies running things is the way the money is siphoned off to some rich asshole instead of being managed by accountable local officials.
TIEPilot@lemmy.world 13 hours ago
If its so efficient why do trash companies exist? I live in a city that has municipal pickup and all my friends that own apartments/restaurants all have private business dumpsters because the city sucks at doing a simple job…
The government needs to stay in its lane and out of business.
RobotToaster@mander.xyz 9 hours ago
The police and most three letter agencies, when you understand their purpose is to protect the wealthy.
TIEPilot@lemmy.world 9 hours ago
Works for me.
kestrel7_7@lemmy.world 3 hours ago
A lot more frequently than I see private industry run something correctly/efficiently.
OwOarchist@pawb.social 10 hours ago
Who said shit about the government?
We should seize the means of production. Us.
TIEPilot@lemmy.world 10 hours ago
Good luck with that bub.
GenosseFlosse@feddit.org 12 hours ago
The difference is that the government has no shareholders or incentive to turn a profit, unlike companies. However it can sell luxury goods at a high price, to subside other goods like food or housing from the markup.
TIEPilot@lemmy.world 12 hours ago
No share holder, we are all share holder in the US government if you pay taxes, are you daft?
wonderingwanderer@sopuli.xyz 6 hours ago
It’s not the government who would control the means of production, it’s the workers. In theory they might use a vanguard party to seize it non-violently and then redistribute it, so in that case it may pass through the government’s hands. But that’s not the only way to seize the means of production. When properly done though, it would end up in the hands of the workers, every laborer owning their own tools and equipment so they can work for themselves instead of some faceless corporation.