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And while I'm on a roll, I wonder why there isn't a bigger fuss made over corporate taxes for large businesses vs. income tax. I don't get to take advantage of

And while I'm on a roll, I wonder why there isn't a bigger fuss made over corporate taxes for large businesses vs. income tax. I don't get to take advantage of the Double Dutch etc. like a corporation would to pay much lower effective taxes. Sure seems like corporate personhood is has all the upside and none of the downside.

FD3SA 11y ago
I struggle to understand why you've been downvoted for this. Perhaps HN has finally become the bastion of neo-oligarchs it purports to train? It's all high and mighty to speak of taxes, but as the esteemed commenter above states, they mostly come from the wage slaves, not the capitaled elite.
- newman314 11y ago
  Thanks for pointing out the down vote. The thoughts I expressed above seem logical and clear to me yet I've seen very little discussion around this subject. For some reason, it seems to me that people find it acceptable for corporations to use every means possible to pay less. I sure would like the option of not paying taxes on overseas income. But yet the US government is intent on taxing all personal income regardless of locale. How is that fair or ok?
morgante 11y ago
The earnings of corporations are eventually taxed. I don't see why they should be doubly taxed. If I go and perform a job, I will pay income taxes on it. If I go and hire a bunch of people, form a corporation, and perform a job, we will pay both corporate taxes and income taxes. That doesn't make sense to me and I can understand why companies go to great lengths to avoid it.
- imgabe 11y ago
  The portion that is subject to income taxes (employee salaries) is not subject to corporate taxes. Salaries are a cost for the company and only the profits are subject to corporate income tax.
  - morgante 11y ago
    I misspoke by attributing the double taxation on earnings to "income taxes." You're right that the portion subject to income taxes is a cost, not profit. I meant the taxation of dividends, which are doubly taxed.
    - newman314 11y ago
      Corporate profits are left overseas and not taxed/taxed at a very low level. You see this with Apple, Google, Medtronic etc. Taxation of dividends is double taxed if you could once to the corporation and once to the individual. Avoidance of taxation of dividends (which only a subset of companies do) is not why these corporations go to such lengths to avoid paying taxes. They do it because they don't want their profits taxed. That's my beef.

FD3SA 11y ago

I struggle to understand why you've been downvoted for this. Perhaps HN has finally become the bastion of neo-oligarchs it purports to train? It's all high and mighty to speak of taxes, but as the esteemed commenter above states, they mostly come from the wage slaves, not the capitaled elite.

newman314 11y ago
Thanks for pointing out the down vote. The thoughts I expressed above seem logical and clear to me yet I've seen very little discussion around this subject. For some reason, it seems to me that people find it acceptable for corporations to use every means possible to pay less. I sure would like the option of not paying taxes on overseas income. But yet the US government is intent on taxing all personal income regardless of locale. How is that fair or ok?

morgante 11y ago

The earnings of corporations are eventually taxed. I don't see why they should be doubly taxed. If I go and perform a job, I will pay income taxes on it. If I go and hire a bunch of people, form a corporation, and perform a job, we will pay both corporate taxes and income taxes. That doesn't make sense to me and I can understand why companies go to great lengths to avoid it.

imgabe 11y ago
The portion that is subject to income taxes (employee salaries) is not subject to corporate taxes. Salaries are a cost for the company and only the profits are subject to corporate income tax.
- morgante 11y ago
  I misspoke by attributing the double taxation on earnings to "income taxes." You're right that the portion subject to income taxes is a cost, not profit. I meant the taxation of dividends, which are doubly taxed.
  - newman314 11y ago
    Corporate profits are left overseas and not taxed/taxed at a very low level. You see this with Apple, Google, Medtronic etc. Taxation of dividends is double taxed if you could once to the corporation and once to the individual. Avoidance of taxation of dividends (which only a subset of companies do) is not why these corporations go to such lengths to avoid paying taxes. They do it because they don't want their profits taxed. That's my beef.