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At the end of the day, it's a form of wealth distribution for the benefit of society (military, police, etc). If you cut corporate taxes, how do you compensate
by jadbox 8y ago
At the end of the day, it's a form of wealth distribution for the benefit of society (military, police, etc). If you cut corporate taxes, how do you compensate for that amass of wealth? Also remember that currently a company can "own" a bank account that people do tend to tap into for personal gain (although technically against the law). As a moderate, I'd only be open to removing business tax IF businesses are unable to own any profits. This basically just means the business tax gets effectively rolled into a form of personal income tax. I haven't thought about this before, so I'm not sure what the outcome could be.
Alternatively, there's the Henry George system which seems to be getting some interest again. My main issue with this system is that so much "goods" are virtual now being software and information... even virtual land has real value today. I haven't seen a good explanation of how Henry George's system of taxing the 'finite' resources could be adopted to our (still vastly growing) digital age and digital assets.