That’s a false comparison. Salary after tax is not comparable to profit. Profit is after ALL expenses. So if I did something really really stupid, after being warned about it and repeatedly, and was fined 2% after ALL expenses, I’d say I got off easy.
Think of some small family owned business, like a ma and pa shop. What they have after all expenses, the profit, is what they live off. That’s their “salary”.
What you have left after all expenses is your savings. In a business, savings would be an investment, which does not count as profit.
Really, it’s just an asshole tax. Most restaurants these days have extra fees that exceed 2% just because. Hell, once upon a time, a 15% tip was given for great service. Now it seems like 20-22% is often the lowest in the recommended tip section. 2% of extra money is nothing, especially when the fine is less than what was earned from the infraction. It’s a lot easier to stomach a 2 billion dollar fine, when you earned 4 billion because of it.
$2 billion, that’s 4 whole days of profits for them.
Ah yes but those people love money so much, they are probably devastated.🤪
So you wouldn’t mind if 2% of your yearly salary after tax would disappear, right?
That’s a false comparison. Salary after tax is not comparable to profit. Profit is after ALL expenses. So if I did something really really stupid, after being warned about it and repeatedly, and was fined 2% after ALL expenses, I’d say I got off easy.
Think of some small family owned business, like a ma and pa shop. What they have after all expenses, the profit, is what they live off. That’s their “salary”.
What you have left after all expenses is your savings. In a business, savings would be an investment, which does not count as profit.
Really, it’s just an asshole tax. Most restaurants these days have extra fees that exceed 2% just because. Hell, once upon a time, a 15% tip was given for great service. Now it seems like 20-22% is often the lowest in the recommended tip section. 2% of extra money is nothing, especially when the fine is less than what was earned from the infraction. It’s a lot easier to stomach a 2 billion dollar fine, when you earned 4 billion because of it.
Those tip rates are a US thing, because it’s a hidden way to increase prices without having to write it down anywhere.
No, it’s not false.
2% of nothing is still nothing 🤷
I’m glad you will sacrifice your salary for the greater good!
$2B is actually 2% of their profit. That’s 7.3 days.