Is profit different from unfair tax?

[Japher]

Capitalists, however, can't spell

I can't

Profit = earnings - expenses

those who think otherwise don't know what they are talking about. Wages are expenses to the grocer and earnings to the bag boy... Anything left after feeding their family, paying rent, or in the case of the grocer any overhead (including the bag boy's earnings) is profit.

Unfair tax? Not sure what you are talking about, but I think a lot of tax is unfair... That's a constant in life.

[Urban Ranger]

Originally posted by MichaeltheGreat
And profit has nothing to do with a tax. Or have you never heard of businesses losing money and going out of business?

Companies don't make money don't have to pay taxes, either.

[Urban Ranger]

Originally posted by Japher
Profit = earnings - expenses

those who think otherwise don't know what they are talking about. Wages are expenses to the grocer and earnings to the bag boy... Anything left after feeding their family, paying rent, or in the case of the grocer any overhead (including the bag boy's earnings) is profit.

Are you talking in accounting terms?

If so, feeding family and paying rent (except for the shop) don't count.

[pchang]

So untrue

They just don't have to pay income taxes. However they still have to pay:
Pay Roll Taxes
Sales Taxes (sometimes)
License Taxes

And I am undoubtedly missing a few.

EDIT: forgot Property Taxes

[The Andy-Man]

if the commies had there way, according to this thread atleast, the workers should get all the cash whilst the owner and his family have to starve.

Hows that coincide with your average communist conspiracy, Mandrake!

[Japher]

If so, feeding family and paying rent (except for the shop) don't count.

As expenses (to the bag boy)?

[Urban Ranger]

Re: So untrue

Originally posted by pchang
They just don't have to pay income taxes. However they still have to pay:
Pay Roll Taxes
Sales Taxes (sometimes)
License Taxes

And I am undoubtedly missing a few.

They don't pay payroll taxes, their employees do. They just collect the $ for the government.

They don't pay sales taxes either.

Here, if a company doesn't make $, it doesn't have to pay for a business license.

Anything else?

[Urban Ranger]

Originally posted by Japher
As expenses (to the bag boy)?

Since only businesses can make a profit, your question is meaningless.

[The Andy-Man]

Re: Re: So untrue

Originally posted by Urban Ranger


They don't pay payroll taxes, their employees do. They just collect the $ for the government.

They don't pay sales taxes either.

Here, if a company doesn't make $, it doesn't have to pay for a business license.

Anything else?

in the UK, atleast, the bussness has to contributew to the Natianal Health insurabce of the employee i beleive.

If so, feeding family and paying rent (except for the shop) don't count.

I guess they don't, but with our these 'prfits' that bloke gets no return for his labour (and contrary to lefty beleif, the boss does have to do a helluva lot of work - what you put in you get out etc), and with no return, the poor sod has to starve without a home i guess. His fault for being a hard working honest capitalist i guess

[DinoDoc]

Originally posted by Urban Ranger
Companies don't make money don't have to pay taxes, either.

Even if true (I highly doubt it is.), what does this have to do with the thread?

[pchang]

Re: Re: So untrue

Originally posted by Urban Ranger


They don't pay payroll taxes, their employees do. They just collect the $ for the government.

They don't pay sales taxes either.

Here, if a company doesn't make $, it doesn't have to pay for a business license.

Anything else?

In many countries their is an employer contribution to the payroll taxes. In the US, companies match the amounts employees pay for Social Security and Medicare.

In many countries, companies pay sales taxes when they are the end users of the products they buy. They pass through sales taxes on items they resell to consumers.

In many countries (in the US, States and Cities also have their own license fees), business license fees are not waived.

[Japher]

Since only businesses can make a profit, your question is meaningless.

Your a sad, sad man

Profit = earnings - expenses

Care to show me where I put "this equation holds true only for buisnesses" or where in your head you came up with the notion that only buisnesses earn a profit?

[Urban Ranger]

Re: Re: Re: So untrue

Originally posted by The Andy-Man
I guess they don't, but with our these 'prfits' that bloke gets no return for his labour (and contrary to lefty beleif, the boss does have to do a helluva lot of work - what you put in you get out etc), and with no return, the poor sod has to starve without a home i guess. His fault for being a hard working honest capitalist i guess

What I am saying was, in terms of accounting, the owner's personal finances is separate from his shop/company/etc. You can't put those on the P&L of the company.

[The Andy-Man]

Re: Re: Re: Re: So untrue

Originally posted by Urban Ranger


What I am saying was, in terms of accounting, the owner's personal finances is separate from his shop/company/etc. You can't put those on the P&L of the company.

no, but seeign as he owns the compnay, he also owns the profits, and seeign as he has no 'wages', the 'profits' are his means of substinance.

That are many occcasions where the owner can earn less the his employees, maybe his employees should have their wages cut so he gets an even share?

[Japher]

UR: I see what you are getting at.

What about buisness that earn a profit, but have no employees? Should they be forced to hire people?