volcan said: The real scum are the lawyers, politicians and accountants who think up these devious schemes to facilitate the wealthy avoiding taxes.
Damn straight! That is if you consider that companies are people, which they are clearly not... unless you are an accountant.
Most of you know the mantra. Say it with me. “Companies don’t pay taxes. People pay taxes.” ‘Cause ya know, when your company pays taxes it ultimately comes out of your pocket as an employee or out of the collective pocket of your company’s customers.
The mantra is a lie, of course. Companies DO pay taxes, at least when they don't manage to illegally dodge them or lobby to get their rates reduced to ridiculously low levels.
Keep in mind that we're talking about an income tax here. Companies only pay income taxes on their profits, not their entire revenue. Every penny spent on expenses like employee salaries is not taxed as income, it's an expense. Buildings built? Expense. Products produced? Expense.
The optimum and fair corporate tax rate is the exact same rate that a person with that same level of income would pay. Anything less is too low.
So we need a new mantra, say it with me. "Companies and people pay taxes."
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Keep in mind that we're talking about an income tax here. Companies only pay income taxes on their profits, not their entire revenue. Every penny spent on expenses like employee salaries is not taxed as income, it's an expense. Buildings built? Expense. Products produced? Expense.
The optimum and fair corporate tax rate is the exact same rate that a person with that same level of income would pay. Anything less is too low.
So we need a new mantra, say it with me. "Companies and people pay taxes."