Saying you run a business is easier than actually running one
By Ben Berkley
/ May 30, 2023
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Ahoy there, matey! Did ye know that major cruise lines be rakin’ in more booty than Blackbeard himself?
Alright, enough of that.
In 2020, we estimated the average cruise ship made $291 in profit per passenger, per cruise.
Major cruise lines pocket a substantial sum of their revenue thanks to tax exemptions outlined in the US tax code. By registering ships elsewhere and flying foreign flags, industry critics argue that cruise lines are able to avoid paying millions in US corporate taxes.
But how is this loophole possible? It’s like they’re sailin’ the seven seas with a secret map to buried treasure, all while the rest of us landlubbers are left high and dry. Arrr!
Ok, seriously, we’re done.
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