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January 31, 2023

Footnotes: Herbalife Is Having Another Bad Day; Obamas’ Sterile Tax Return; Rich White Guy News | 04.11.14

Criminal probe launched into Herbalife [FT]

IAC Said to Buy More Tinder Shares at $5 Billion Valuation [Bloomberg]

The Obamas’ return is “pretty sterile,” said Anthony Nitti, a partner at Withum, Smith + Brown PC in Aspen, Colorado. [Bloomberg]

Man Who Owns 28,500-Square-Foot Apartment In NYC Opposes 5,531 Square-Foot-Home In Southampton [DB]

Sound familiar?

When a couple of old, rich white dudes navigate the tax system, Allan Sloan thinks it's funny. When Apple does it, he thinks it's bad. Here's the difference: 

Why am I amused by this, rather than enraged — the way I am enraged by companies like Apple, which call themselves American but invent repellent (albeit not illegal) ways to artificially suck earnings out of the United States via offshore subsidiaries that don’t have to pay any tax anywhere? Because cash-rich split-offs are specifically allowed by the Internal Revenue Code. Graham Holdings and Berkshire Hathaway aren’t pushing boundaries; they’re using something that Congress has specifically allowed. 

Oh! Congress allowed it. Totally fine, then. 

What The Fuck Does This Thomas Friedman Hockey Metaphor Mean? [Deadspin]

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