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This is why I actually favor doing away with the corporate income tax. Hundreds of thousands, maybe millions, of accountants and tax lawyers would be out of wor
by drumdance 11y ago
This is why I actually favor doing away with the corporate income tax. Hundreds of thousands, maybe millions, of accountants and tax lawyers would be out of work, but on the flip side companies would have no incentive to play all these games and keep money offshore. Just pay a dividend, or don't, and let the investors figure it out.
- plonh 11y agoThen you'd need a property tax or else the investors can keep accumulating value and never paying tax.
- drumdance 11y agoNo, you'd still tax distributions to investors. Basically, once money touches a personal bank account, it becomes taxable. The difference is that corporations would have much less incentive to hide their earnings.