OA530: Andrew Testifies to Congress on Christian Healthshare Ministries!
Added 2021-10-01 04:38:56 +0000 UTCMr. Torrez went to Washington! Ok ok, not quite as glamorous as all that, but Andrew DID testify via Skype in a closed door congressional hearing about Christian Healthshare Ministries! How cool is that! Andrew breaks down what he talked about, and the new facts he dug up in his preparation! Also, if you or anyone you know has been harmed by a Healthshare, please write into the show! Email is below.
In the second half, Andrew goes through the Activision Blizzard settlement and why it is good news!
Links: Alliance of Health Care Sharing Ministries 990, National Coalition of Health Care Sharing Ministries 990, Gospel Light Mennonite Church Medical Aid Plan Inc. 990, Christian Healthcare Ministries 990, Initial Blizzard lawsuit, Activision Blizzard Confirms SEC Is Investigating It, EEOC (federal) – lawsuit filed Monday 9/27
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Comments
To make matters more confusing, this is literally taught in business school as the proper way to do business. The IRS does know, but it's just all weird creative ways to say you have more resources than you do, because you are factoring in future considerations (ie you frequently will use pending but not paid transactions as part of your balance) and conceptual value (you can literally assign goodwill a monetary value...). All investors and anyone who has taken mba level classes know how to read it, but it's an extra barrier to entry for investment for those with less education. If you go public, you have to do the books like this as well. It's what everyone else does. (Source : master's degree from 2019)
Kevin
2021-10-01 16:12:09 +0000 UTCI think part of the reason for Andrew and Thomas's disagreement RE accounting is that the books you show the IRS are often a completely different set of books than what you show the investors, and it's a big part of the issue with corporate tax fraud in the US.
WiseThat
2021-10-01 14:41:38 +0000 UTCI was listening to Wylie’s History of Protestantism (a beautiful experience for being rich storytelling, meticulous history, and extreme intentional bias) There is a whole chapter talking about how the Dominican Order was founded to circumvent corrupt, clunky older orders and re-evangelize Europe They weren’t allowed to “own” property but nobody said they couldn’t “steward” property and so they got rich and corrupt even faster than the older orders had done This came to mind when you shared how Christian Healthshare Ministries are using the same tactic to hide their money from the IRS, which is about as blatant tax evasion as I can imagine.
Slartibarfast
2021-10-01 12:03:59 +0000 UTC
