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This Friday night was an interesting show dealing with several topics however the Chairman & CEO of Carnival (Micky Arison) is under investigation now because of tax issues. Not only has there been a number of cruise ship accidents and failures that the government has had to help out with sending the Coast Guard or the Navy out, but now there seems to be a big tax issue.
Quote:
Rock Center commissioned S&P Capital IQ to look into Carnival’s taxes and their team found that on billions of dollars in profits over five years, Carnival paid only .6 percent taxes.
Carnival is another one of those “off shore” corporations licensed in Panama yet operates out of the US. Taxpayers are subsidizing the corporate operation, however what’s new?
But man, don't you know that those corporate jobs provide all of our jobs!? I say we lay on some uber corporate welfare on top of that so they will create 1000s more jobs!
I thought businesses wanted government out of their companies, less government was good. However if they licenses or register their business offshore then little or no tax is collected by the very country that they want to protect, serve, or rescue them when things fall apart. Look at how much it costs the US government to provide Navy and Coast Guard for their ships. Not only is the cruise business doing this but also the oil industry and others, they simply want the government there to help them and they want to avoid paying any taxes for that service.
I can’t imagine how many passengers got sick while onboard the ships and will have issues for some time to come. I could be wrong but I don’t think they (the passengers) have any legal recourse against Carnival because it’s an offshore company.
Aksarben, hope you had a nice holiday. Can't rep ya' again.
I think it may be even more dire because the specs for building these cruise ships are probably not well regulated.
I read that the last fiasco in the Gulf of Mexico could have been much worse, had there been winds. When that ship was stranded without propulsion it was listing in the waters. It did not have adequate ballasts and was built to rely on forward motion in order to stabilize it.
That Carnival Costa mess in Italy probably never would have happened, had that ship been built with a full double hull, as some of them are. That ship only had a half double hull and was compromised by those rocks.
I don't know any Cruise line that advertises it's safely of construction. It seems to be an ignored matter, and if it's ignored and the purpose of the cruise is to make money I would not be surprised to find out that too many corners are being cut in the building of these behemoths.
I would venture that the top end ships were more structurally sound because their clientèle could much more readily afford good attorneys.
I would venture that the top end ships were more structurally sound because their clientèle could much more readily afford good attorneys.
If they were negligent enough it would seem ripe for a good class action suite. Since these are foreign registered ships why doesn't the government charge them a hefty permit fee to operate out of our ports as we surely must go rescue them??
If they were negligent enough it would seem ripe for a good class action suite. Since these are foreign registered ships why doesn't the government charge them a hefty permit fee to operate out of our ports as we surely must go rescue them??
People don't usually get, individually, a lot of money from class action suits, but they might deliver a lesson to the offender. If a company had a choice between dealing with a few attorneys in a class action suit or a thousand individual attorneys chosen and paid by well heeled clients, they would probably chose the class action. People who don't take part in class actions and sue on their own generally end up with more money and the company's resources would be tied up in these things for years.
If I could find and afford a good attorney who is experienced I would avoid a class action like a plague.
You're right. There should be some way to guarantee remuneration, especially when the problem was not an act of God, but one of lack of proper safety measures and inspections.
I found it humorous that the interviewer chided Arison for not paying more taxes, even though he is not doing anything illegal. I don't know too many people who would voluntarily pay more taxes, out of the goodness of their heart.
I'm disgusted with the loopholes that allow Carnival to pay only 0.6% in taxes, but one can hardly expect any corporation to not take advantage of legal loopholes. Not saying it's moral, it's just the way it is.
Close the loopholes!
And then when he asked the question about whether passengers would be willing to pay higher cruise fares if the company paid higher taxes........really?? The $billions of profit can't cover a reasonable tax rate for them?
I found it humorous that the interviewer chided Arison for not paying more taxes, even though he is not doing anything illegal. I don't know too many people who would voluntarily pay more taxes, out of the goodness of their heart.
I'm disgusted with the loopholes that allow Carnival to pay only 0.6% in taxes, but one can hardly expect any corporation to not take advantage of legal loopholes. Not saying it's moral, it's just the way it is.
Close the loopholes!
And then when he asked the question about whether passengers would be willing to pay higher cruise fares if the company paid higher taxes........really?? The $billions of profit can't cover a reasonable tax rate for them?
Unless I missed it in the article.............................. it's 0.06% not just 0.6% there's a big difference.
Taxes are just a necessary means of getting money to run the country, but these loopholes for corporations are out of hand, it's simply corporate welfare, thanks to their lobbyists who got it for them.
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If they were negligent enough it would seem ripe for a good class action suite.
Since these are foreign registered ships why doesn't the government charge them a hefty permit fee to operate out of our ports as we surely must go rescue them??
