Co-op suffers £80m loss due to cyber attack disruption, further financial impact expected
The Co-operative Group has reported an £80 million loss in operating profits due to a cyber attack in April 2025. For the six months leading up to July 5, 2025, the company posted an underlying pre-tax loss of £75 million, compared to a profit of £3 million during the same period in the previous yea... [More info]
#FT delves deep into a daredevil decade+ dispute on international #ProfitLoss between #ATL's #Coke & #IRS that has escalated to $6b due now after recent US #courtcase losses ... the #SoftDrink company, which has used #NorthernIreland as a backstop to bubble up oft insane profits could fight on to owe another $10B in back #taxes if they keep it up, which would wipe out years of #international #Syrup producer #Profits
Losses
Galore
Samsung's failed to soar
First quarter of '23
Unfavorable
@mwlucas
Fair enough.
We see reports like this all the time and they always seem to elevate the flawed #profitLoss based #taxation methodology and decry greater #enforcement, which won't work. The #kleptocrats know how to engineer losses.
Following on from #HenryGeorge and his book #ProgressAndPoverty, the best way forward is still a Progressive Land Tax on Improved (Rental) Value.
Yes, the greater the rentalValue a property is the more tax, progressive from 15-50% of a years rental value.
The more land you own the closer to 50% you would get, that's what makes it "progressive".
#IncomeTax needs to go, thats part of the #profitLoss shenanigans.
(2/2)
What if on tax day, We the People (aka govt) rolled a dice…
And if the number is a 1 to 3 then, forget #profitLoss based taxes and Progressive #IncomeTax. Instead tax is squarely focused on Progressive Land Tax based on the improved value of the #land (aka #rentalValue).
What do you think?
Can some 'constructive ambiguity' help to limit the excesses and destructive behaviours of the #kleptocratic few.
(In Australia we already have a GST and we are not suggesting changing that)
@nygal
*Silently supports a #ProgressiveLandTax based on #rentalValue of the #land, because the extremely wealthy and well-connected game #profitLoss-based #taxation so they never pay taxes.*
Also #incomeTax doesn't much sense, when compared to #consumption and #landTax'es
And some people just own too much land and engage in #rentseeking that drains the real #economy.
Is it possible to radically simplify #tax and #socialSecurity by removing all #profitLoss garbage, so manipulated by the #powerElite, to instead focus all taxes on #landTax (based on #rentalValue/#salePrice) and #GST (on #manufactured/#nonEssential items, see #Australia)?
A #btcFuture will be different. It could be more #equitable…
…but only if we demand it.
LandTax could start at 15% of the rental value and increase based on the amount of #landValue owned by the person, to 50%.
Thoughts?
@11235
#LandTax is supposed to be 15% of what you might get as #rent if you rented the property.
This is designed to spread the #tax load over the #extremelyWealthy, who have land that is a lot more #productive and/or in the expensive areas, when compared to most peoples' land.
Currently we are being forced to pay more because the extremely wealthy use phony #profitLoss statements, #blindTrusts, #taxhavens and other tricks.
There is a fairer system kept hidden.
@nerdman @kaikatsu @kino
ivysaur8660 at KillBait
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