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Old April 6th, 2013, 09:20 AM
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Mike M Mike M is offline
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Quote:
Originally Posted by Paul Motter View Post
Mike....

I fully understand your logic, but I take exception to the characterization that what the cruise lines use for their tax structure is "loopholes."
Paul,

In my original statement I was addressing how they structure their business to handle taxes, labor laws and government oversight. I did not say they did anything illegal and they do take advantage of every opportunity to reduce costs. If you can find a way to make the the tax system or regulations work for your business you have found a "loophole". The laws are the laws and as long as they are working within the law it is fine and structuring the business to take advantage of the laws is a good business practice. Is it a practice that will go unnoticed and perhaps be changed? Initially John D. Rockefeller did nothing wrong when he created Standard Oil. However, anti-trust laws were enacted that ended his monopoly. As you pointed out; after the dismantling of Standard Oil John D. Rockefeller was richer than he had been before the break up.

The magnifying glass is on the cruise industry. Business practices and other things that many of us took for granted may not be looked upon the same way by many legislators and the general public.

Take care,
Mike
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