Edhat Staff
By edhat staff
Patagonia, the Ventura-based outdoor clothing company, is donating the $10 million it saved from Trump’s tax cuts to non-profit environmental groups.
Last year Republican’s passed an overhaul of the U.S. tax code greatly benefiting corporations, downgrading their corporate tax rates from 35% to 21%.
Last week Patagonia stated the massive donation is in addition to their annual non-profit donation of 1% of sales. The $10 million was added after the recent National Climate Assessment, the company cited in its announcement.
“Our government continues to ignore the seriousness and causes of the climate crisis. It is pure evil,” said Yvon Chouinard, Patagonia’s founder. “We need to double down on renewable energy solutions. We need an agriculture system that supports small family farms and ranches, not one that rewards chemical companies intent on destroying our planet and poisoning our food. And we need to protect our public lands and waters because they are all we have left.”
The government report warned that natural disasters are worsening in the U.S. because of global warming. It stated violent weather and floods have led to costs of nearly $400 billion since 2015 and the potential for annual losses hundreds of billions of dollars. Though economists agree with the general financial conclusions related to climate change, President Donald Trump has rejected the report’s assessment regarding the potential economic impact, reports NBC News.
An excellent example of what companies can do with money from tax cuts. Others may create more jobs… Hopefully.
Awesome! We need more companies like Patagonia!
BigPharma uses their profits to market more drugs you don’t need, which have not been backed up by evidence-based outcomes. Trust but verify. You will be surprised when you delve past BigPharm marketing.
I’m sure Yvon Chouinard considered this (tax deductible) gift long and hard while taking in the view from his 100 acre coastal home in Hollister Ranch. Yvon, please also voice your support for providing coastal access to all citizens. Gated enclaves that prevent constitutionally-protected coastal access are also “pure evil”.
Imagine how much the really big companies will get back. Create jobs? Most likely it will go to their stock holders.
Why didn’t he knock a dollar off 10 million products?
I don’t think you should be complaining about Hollister Ranch being pure evil. You have miles and miles of coastline to enjoy. Don’t try to take away peoples private property. That coastline is so special because it has been private.
I am so torn on the Hollister Ranch issue. On one hand I would love for the access to be open, but on the other hand people just trash and destroy everything available to them. I kind of like the idea that it is rugged and pristine but that’s just me
the 10 mil is a result of the recent tax cut and the donation will be another tax credit. cha ching. double tax deductible batman.
More Trump derangement syndrome. Glad for the tax cut. Glad you donated the money. Glad the economy is booming. Win, win, win. Thank you President Trump!
booming until he tweets, that is.
Glad for the deficit, glad for the hate crimes, glad for the tariff wars driving our farmers into bankruptcy. Win, Win for the Corporations!
We had to fence off the beach to keep it from the riff-raff. Thank goodness for rich people and fencing. At least 1% of us have the chance to enjoy that beach someday.
Except that now we know that the recycled plastic creates microbeads that are polluting the ocean. No good deed goes unpunished.
Chouinard was/is a climber and outdoorsman. He understands all living things depend on a viable and sustainable environment. The current DC politicians don’t and won’t until it bites them. Then they’ll retire to their self-contained, climate-controlled survival units (with private armies to keep everyone else out) and discover that over time, they’re as useful as 50’s bomb shelters. Earth is like a row-boat: Drill a hole under seats you don’t like and the whole boat goes down sooner or later.
Wow, a rare sighting in these parts. An actual Fox News / Hannity / Limbaugh parrot living among the “woke”. Be sure to get back to us in a few years Bob. I for one will be interested in your learned assessment once we’ve washed ourselves of the most asinine, insipid, demagogue to ever rule our nation. To think, people actually believe a word that man says. That fact alone makes one question humanity and our nation’s future…
A stellar example of a company that is honors integrity and it’s moral convictions. How refreshing in the age of lies and misdeeds.
Except it was a tax write off. Good PR, not so refreshing.
Flicka, every American invested in a 401(k) retirement fund is a stockholder in multiple companies. The value of your 401(k) fluctuates with the stock market/stock prices. Other financial products such as the Pax World Fund allow you to invest in environmentally responsible companies. It really pays off (no pun intended) to read the info you get from your retirement fund and mutual fund managers. Increasing stock dividends or 401(k) values benefits everyone in the long term.
Kudos to Patagonia and Yvon Chouinard. In case you missed it in the article, the $10M donation is on top of the annual donation (1% of gross sales!) they make as part of One Percent for the Planet which in turn supports non-profit organizations focused on sustainability issues. ……… https://www.onepercentfortheplanet.org/
re: You do realize that the world is not binary? Or is that too hard of a concept for you to comprehend? If you’re not with me, you’re against me! Am I right? Keep paying mind to your chosen charlatans and keep listening to people who are neither schooled nor experienced in policy, science or life preach to you as if they are all knowing. All to fatten their wallets and retain their celebrity… You do know that you’re being played right? Oh never mind. Bless your heart.
More telling is that he didn’t give the money to his employees or customers.
You obviously don’t have a full grasp of finance if you think this was a “write off” or done for PR purposes. But let’s not let knowledge get in the way of a good poke…
FITNESS1, to heck with 401s when the poor, unemployed probably don’t have them. The idea of the tax cuts, bandied about by the GOP, was stated it would let these big companies hire more workers, cutting unemployment. You know, the bogus “trickle down” theory.
Flicka, it’s not as glamorous as being an ex-columnist but do you want a job and low cost of living? Head to Ohio. Lots of jobs that pay well ($18-25/hr) with no experience required. Rent on a nice 3/2 is less than $1000. You can buy that same house for less than $225k. Utilities are virtually nothing. Companies are begging for honest, stable, and reliable workers. And yes, the same companies provide their employees with a 401k. Other than the indigent and those that can’t hold a job (late/drunk/angry/etc), there is virtually zero unemployment in central Ohio. Please get out of your SB bubble and listen to something other than the garbage “news” on the MSM.
Chouinard lives in a pretty modest place at Faria Beach, not at the Ranch. All the owners there are not in favor of keeping it private, believe me. And Patagonia gives 1% of sales every year to environmental groups. Not of profits, of sales. That’s a bundle.