Cammmpbell
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- Sep 13, 2011
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Most companies take out insurance to cover the costs of replacing a dead employee. Any time an employee dies, there is an expense in recruiting, hiring and training a replacement.
Now, it wasn't like WalMart was taking out insurance and then arranging for the employee to have a horrific accident. That really would be bad.
Most companies take out insurance to cover the costs of replacing a dead employee. Any time an employee dies, there is an expense in recruiting, hiring and training a replacement.
Now, it wasn't like WalMart was taking out insurance and then arranging for the employee to have a horrific accident. That really would be bad.
What goddam business does anybody have taking out insurance on somebody they pay minimum wage and end up making $80,000 profit. Training a new employee at Walmart? LMAO! I can watch another Walmart employee doing anything they have to do for a week and do the job myself and I'm 77 years old. That shit ain't rocket science. Let's see...let's suppose they hired me to receive and put up stock. After a week it's a no brainer. Check out through an automatic scanner and making change when the amount you should return flashed up in front of you...another no brainer. Working in the auto group might get a little impossible for me for the simple reason I'm too old to do that kind of work but ironically my first real job wen I was 16 was in a full service garage/service station.
The bastards are ripping their employees off and that's what the fat cats want. Not just Walmart...90% of the companies in this country. They won't be satisfied till the middle class in this country has about the same pay and benfits as a worker in Maylasia. The American middle class has disappeared since Reagan began to borrow money from foreign banks and give it to the wealthiest Americans in the form of tax cuts.
Most companies take out insurance to cover the costs of replacing a dead employee. Any time an employee dies, there is an expense in recruiting, hiring and training a replacement.
Now, it wasn't like WalMart was taking out insurance and then arranging for the employee to have a horrific accident. That really would be bad.
What goddam business does anybody have taking out insurance on somebody they pay minimum wage and end up making $80,000 profit. Training a new employee at Walmart? LMAO! I can watch another Walmart employee doing anything they have to do for a week and do the job myself and I'm 77 years old. That shit ain't rocket science. Let's see...let's suppose they hired me to receive and put up stock. After a week it's a no brainer. Check out through an automatic scanner and making change when the amount you should return flashed up in front of you...another no brainer. Working in the auto group might get a little impossible for me for the simple reason I'm too old to do that kind of work but ironically my first real job wen I was 16 was in a full service garage/service station.
The bastards are ripping their employees off and that's what the fat cats want. Not just Walmart...90% of the companies in this country. They won't be satisfied till the middle class in this country has about the same pay and benfits as a worker in Maylasia. The American middle class has disappeared since Reagan began to borrow money from foreign banks and give it to the wealthiest Americans in the form of tax cuts.
You don't like it?Most companies take out insurance to cover the costs of replacing a dead employee. Any time an employee dies, there is an expense in recruiting, hiring and training a replacement.
Now, it wasn't like WalMart was taking out insurance and then arranging for the employee to have a horrific accident. That really would be bad.
What goddam business does anybody have taking out insurance on somebody they pay minimum wage and end up making $80,000 profit. Training a new employee at Walmart? LMAO! I can watch another Walmart employee doing anything they have to do for a week and do the job myself and I'm 77 years old. That shit ain't rocket science. Let's see...let's suppose they hired me to receive and put up stock. After a week it's a no brainer. Check out through an automatic scanner and making change when the amount you should return flashed up in front of you...another no brainer. Working in the auto group might get a little impossible for me for the simple reason I'm too old to do that kind of work but ironically my first real job wen I was 16 was in a full service garage/service station.
The bastards are ripping their employees off and that's what the fat cats want. Not just Walmart...90% of the companies in this country. They won't be satisfied till the middle class in this country has about the same pay and benfits as a worker in Maylasia. The American middle class has disappeared since Reagan began to borrow money from foreign banks and give it to the wealthiest Americans in the form of tax cuts.
GOOD!!! If it keeps WalMarts amazingly low prices available for my shopping pleasure, then I say yay for Wally World!!!
And btw, not one damn person is forced to work there.
As for fat boy Moore........how can a man make millions off bitching about the system he made millions from, spend a year whining about the US healthcare system while HE himself can't put down the twinkies and take his OWN healthcare into his own hands be getting his rotund ass in shape?
The little scruffy docu-fiction producer told us that Castro had the best health care system on the planet and hollywood seemed to agree except that pretty much no actors who suffered from cancer ever went to Cuba for treatment. The dirty little secret is that Moore's junk is for the ignorant revolutionary masses. The rich left wing liberal elite live in a different world.
I would like to be able to take out life insurance policys on just anyone same as corporations can.
I would like to be able to take out life insurance policys on just anyone same as corporations can.
For decades, a corporation or an individual wanting to buy life insurance on someone else had to have a significant financial or emotional stake in the person's survival, known as an "insurable interest." Thus, companies were able to buy life insurance on certain executives, and partners in law and accounting firms could buy life insurance on each other. The rule had evolved to prevent incentives for murder or negligence, and to discourage one person from profiting from the death of another.
But in the 1980s, insurers persuaded regulators in most states -- Texas being a notable exception -- to rewrite the rules to allow employers to buy life insurance on the lives of all employees. The practice took off as employers became aware of the tax advantages, especially the ability to borrow against the policies and then deduct the interest payments.
Federal tax law prohibits the use of life insurance as a tax shelter if there isn't a legitimate business purpose for having it. From the start, many companies have asserted that they use COLI to pay for employee benefits. Still, they aren't required to disclose how they do use COLI money.
In 1996, Congress clamped down, forcing companies to begin phasing out the interest-payment deductions they were taking on COLI loans. And the IRS began working on collecting some of the money the companies had deducted from their taxes. Some government officials say the sum under investigation is probably much higher than the $6 billion the IRS confirms, and involves as many as 700 companies.
Security and Exchange Commission filings provide some clues about the amounts of tax dollars at stake. In 2001, American Greetings Corp. recorded a charge of $143 million for potential exposure to disallowed deductions on COLI-loan interest payments. R.R. Donnelley & Son Co., a Chicago printing company, agreed this month to pay the IRS $150 million for disputed deductions related to policies covering more than 20,000 workers. And W.R. Grace & Co. indicated in its 2001 filings that it deducted $163 million in interest after 1992 and has current unresolved tax exposure of $57 million.