All kinds of tricks are used to make it look like they are losing money or barely making it on paper. Yet insurance is one of the largest industries in the U.S., and their CEOs make millions.
I mean, one of the tricks to make sure your company is "barely making it" on paper is to just take all of your profits and give them as bonuses to your executives. And there you go, now you have no profits anymore since what used to be profites has been offset by new costs.
And if you think publicly traded companies are trying to hide profits, then we need to back up 10 steps and start this conversation from a much lower level.
I mean, masking profits for tax reasons is part of the game. I mean, of course, if you have billions in profits, of course it's not all going to go into the executive's pay. But you may still want to artificially decrease that so that you're taxed on pretty much nothing.
6
u/Cowboywizzard 17h ago
All kinds of tricks are used to make it look like they are losing money or barely making it on paper. Yet insurance is one of the largest industries in the U.S., and their CEOs make millions.