(Whether you agree with him or not, the work he puts into his blog is tremendously impressive.)
And profits have also been artificially sustained by significant cuts in corporation tax and other exemptions from tax. For example, Warren Buffett’s investment company, Berkshire Hathaway has been able to defer $62bn in taxes, that’s eight years of taxes, because the company has bought capital intensive businesses like railways and power utilities. That has given the company even more funds to invest in the stock market. Berkshire’s Energy unit receives tax credits for renewable power generation — reporting $258m of wind energy tax credits in 2014, and $913m of investment tax credits in 2012 and 2013 for opening new solar power plants. This is interest-free borrowing made possible by the taxpayer because of the business-friendly government. https://thenextrecession.wordpress.com/2015/03/10/a-fictitious-boom/ _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
