1 day ago11 points(+0/-0/+11Score on mirror)4 children
It blows my mind that nons will spend so much money on shoes, hats, bags, cars, and other shit that they can't really afford and is completely unnecessary.
Ive said this before but niggers are raised by single mothers. What do single mothers value? Hair, clothes, shoes, jewelry, etc. black men are pretty much trans without transitioning.
Yes, but you're operating on the assumption that the money is real.
Fact is, when you get a loan from the bank, 80-90% of that money isn't real. Due to the way fractional reserve banking works, the bank doesn't need 100k to loan you a 100k. They can loan you 100k and only physically have 10-20k in the bank.
So they "loan" Tyrone a 525 dollar "asset" (which is an insane profit margin already considering how little they actually cost), then when Tyrone turns it back in, they can write off the depreciation of the "asset".
And if Tyrone doesn't turn it back in, they can write it off as a loss and get a tax burden reduction.
And then, they sell off the delinquent debt to collections for pennies on the dollar, and then the collections agency buys the debt and tries to collect the full amount.
You ever notice why nobody gets their kneecaps broken for not paying their debts anymore?
21 hours ago3 points(+0/-0/+3Score on mirror)1 child
That's...not really how assets and write offs work.... You have fractional reserve banking down correctly, except it's actually much worse - the reserve is like 2-3%.
If the shoes are worth $100, then the asset is worth $100 and they sell it at $525. If they get destroyed completely, it's a $100 loss not a $525 loss - so there's no benefit here. Used shoes might be worth 25-50%, so that's a $25-50 depreciation not $262,50. They margin is so high because it's a numbers game - they know large part of their target market will stop paying and good luck repo'ing shoes and even more-so selling used ones after. For every 5 deals they need each of them to pay off an average of $100 and after that is their actual profit.
The proper way to scam large amounts on taxes is with a charitable foundation and art.
18 hours ago1 point(+0/-0/+1Score on mirror)1 child
You've got to imagine though that they're paying a down payment and/or some kinda deposit on them before the store let's them walk out with them, right?
They're probably insured and getting the insurance payout from the business perspective is probably the best bet. When stolen It's the only time they'll actually get paid off.