| [07-30 23:09] | [Chat] | Icewolfz: granted it be good like reasearch and dev that tends to alwyas be a loss but it can result in big gains in future |
| [07-30 23:09] | [Chat] | Am: after 2 years, he moves the cars to lot #2 and loses money on lot #2 and pays himself $500k from that lot |
| [07-30 23:10] | [Chat] | Icewolfz: happens |
| [07-30 23:10] | [Chat] | Icewolfz: unless ther are laws it wont change |
| [07-30 23:10] | [Chat] | Am: after writing down the losses from each lot, neither business nor himself pay much if any tax at all |
| [07-30 23:10] | [Chat] | Icewolfz: and evn then i doubt it would change |
| [07-30 23:10] | [Chat] | Am: that's the micro version of the Google or other big tech cheat |
| [07-30 23:10] | [Chat] | Icewolfz: yeah |
| [07-30 23:11] | [Chat] | Icewolfz: granted it can be used for good like offseting haevy cost of reseraching new stuff |
| [07-30 23:11] | [Chat] | Am: they can write down losses from one sub to nullify profits from another. |
| [07-30 23:11] | [Chat] | Icewolfz: but there always those that abuse it |
| [07-30 23:11] | [Chat] | Am: at the very least, losses from one sub should only get written off against sales of the other. |
| [07-30 23:11] | [Chat] | Icewolfz: that or they declare bankrupcy |
| [07-30 23:11] | [Chat] | Icewolfz: and alreayd sold or moved evryting ot other company |
| [07-30 23:11] | [Chat] | Icewolfz: trump did it like 3 times |
| [07-30 23:12] | [Chat] | Icewolfz: 3 business bank trump but he made like 600 mill |
| [07-30 23:12] | [Chat] | Am: I'm rich. I make about 100k |
| [07-30 23:12] | [Chat] | Icewolfz: depeendson wher you live |
| [07-30 23:12] | [Chat] | Icewolfz: just read 6 figures isn o logner the rich level depending on location |
| [07-30 23:13] | [Chat] | Icewolfz: eg 100k in ca is poverty or near it now |
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