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The $1B of salaries are being taxed as income and the $2.2B of sales most likely hits a sales tax. (Or the $1.2B difference, if it’s a VAT/GST style tax.) I pe
by sjwright 9y ago
The $1B of salaries are being taxed as income and the $2.2B of sales most likely hits a sales tax. (Or the $1.2B difference, if it’s a VAT/GST style tax.)
I personally don’t see the point of corporate tax, other than to make other taxes seem smaller than they’d otherwise have to be. Profits are not in and of themselves useful to people; they have to be converted to income somehow.
- neoeldex 9y agoThe problem with taxing income is that it taxes the lower/middle class heavier than upperclass. Usually the upperclass has ways of diverting their income into other means. Taxing profits is the current approach. There's been talk about taxing revenue for companies. Which is measurable on a nation's level
- sjwright 9y agoThen identify the ways wealthy people can divert income (e.g. Australia's fringe benefits tax) and force them to report it as income.