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Corporate taxes are the most blindingly stupid idea ever. People forget that the only way to level the playing field between Amazon and local shops is to cut t
by m101 6y ago
Corporate taxes are the most blindingly stupid idea ever.
People forget that the only way to level the playing field between Amazon and local shops is to cut taxes to 0 rather than layering on increasingly complex tax rules. Amazon thrives in the presence of corporate taxes.
Corporate taxes also create huge incentive to offshore jobs to tax havens.
Not to mention no corporate tax rates would mean no need for all sorts of expenses on legal and accountants for tax optimisation.
In the UK I think we acknowledge they are a bad idea by having a plan to step them down over time to some low level (and potentially even 0 eventually). Covid derailed that plan.
- cuchoi 6y ago> Corporate taxes also create huge incentive to offshore jobs to tax havens That's why Yellen is proposing a global minimum corporate tax.
- emteycz 6y agoWhy would the states profiting from low/none corporate taxes follow suit? Seems like their business just got a lot better.
- m101 6y agoThe problem here is that we are treating a symptom of legislation and not the cause, as usual. Instead of all trying to agree on a level of tax rates (unrealistic) we could unilaterally slash corporate tax rates and watch the others follow.