That's why banks usually pay you interest or at least provide free services, such as transfers. If the contract doesn't say you get a share of the profits, then they don't "have to" give it to you. — Echarmion
Do you imagine the 0.01% interest is what your bank is making on the what was your money, but is now their money? Like I said, give them a call and ask them. We don't need to keep going round in circles on it, because you can the answer conclusively by asking them.
Are you by any chance confusing debtor and creditor here? Because otherwise this seems to be nonsense. — Echarmion
I can safely say then, you have not owned your own business if this makes no sense to you. That's how business works. What do think the financial advisors get paid for? Don't tell me, arranging mortgages right?! Sorry I'm teasing.
It's not like wealthy people are a different species that looses all empathy with other humans. — Echarmion
True, they aren't a different species, and many will optionally choose to pay more tax because they morally sound, and like sleeping at night with a clearer conscious. Just have a look at which companies choose to run out of Ireland, our Jersey where the tax laws are very favourable. Also, what do think "off shore bank accounts" are all about? Why do you think the wealthy got "really anxious" when they talked about "transparency" of these bank accounts? It's because there is a lot of wealth hidden in them.
Yeah, I am pretty sure I know what a balance sheet is. — Echarmion
If you read that correctly, you would have noticed I said, "Financial Statement" not "Balance Sheet". They are two different things. The balance sheet is an accountant produced statement and does not included "Income, Expense, Assets and Liabilities" crossed. I feel like I'm just giving you free training here. Would you mind donating some money to me for this? Lol, I'm kidding.
But if I were to open a business, which involves me driving to clients, I could transfer the car to the company and it'd be listed as an asset. — Echarmion
Would you give your car to the business for free? Or would you want a few quid for it? Lets say you want £1000 for it at £100 per month. So on one side, it would be listed as an asset "Car" worth £1000, depreciating each year, etc etc. to zero value. On the other, it would be listed as a "liability". The business now owes you £100 per month. If the car fails before you've paid it off, now you have a liability with an unexpected zero-valued asset. Sad times. As an example of course.
Actually, worse than this, now the business owns the car, your tax code will go negative, for fun, lets same your tax code with now be "K1500". The K means negative, so before you earn any money, you now owe the tax man £1500 each year. Of course, we are assuming the business has "assigned" the vehicle to you, being a car, they would probably have to. You tax code would have been, say L1200 of whatever. So before having the car assigned, you would have been able to earn £12,000 tax free. But not now, now you owe them. You will also need to complete a P11D etc etc. Oh and fuel too, who pass that? You or the business? If the business pays, now you gotta pay the tax man a bit more because you see, that's classed as a benefit so you gotta pay tax on that.
The truth is, company car's are now taxed so badly, that most businesses would rather give you the money to buy one, and then you own it and fuel it, etc etc. So the tax laws have encouraged the opposite of what your suggesting. But I digrest... a lot.
wars are good for the economy. — Echarmion
Google it. There's isn't an economist in the planet that is going to say war is bad for the economy.
Right. You'd first have to establish that wars are fought only for economic reasons. You could start with any of the two world wars. — Echarmion
There not fought just for economic reason, but the economy will always be considered and those economies can boost "production" by having a war. If you Google, how much are America spending on military hardware these days? Especially when a "super fancy missle" can cost up to a million dollars of more these days.
Those companies that are solely serving the Military are dependent on the military, and the military on them. If I had a company supplying helicopters, I will also be supplying upgrades, training manuals, etc etc. Do you think the military will say, "no wars on at the moment guys, we don't need any helicopters for now". The business would be bust and the military would have a load of helicopters that have no manufacturer. Instead, they sit around a board room table and say, "Ok, military guys, we are getting short on funds, so let's start a project." We'll upgrade all such as such group of helicopters, or whatever. And the news will report, "Our great military are keeping us all safe by performing a safety upgrade to all our old stuff and making it all shiny and new again."
Unfortunately, its all very much smoke and mirrors. Not just America, everywhere. You think you're not being told the truth, and of course you're not. National security is at stake, you only know what you need to know, like the rest of us.