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I agree about the "corporate tax creates work in tax avoidance", but if corporate taxes are abolished, wouldn't it drive more individuals to incorporate their o
by ericjang 5y ago
I agree about the "corporate tax creates work in tax avoidance", but if corporate taxes are abolished, wouldn't it drive more individuals to incorporate their own businesses?
The tax avoidance industry now shifts to servicing individuals, and again we find ourselves with inequality between individuals who can afford those services and those who cannot.
An alternative way to tax would be to simply raise interest rates, and discourage capital from not being deployed productively.
- kumarvvr 5y agoIncorporation and maintaining related documentation is a tough job. I guess one solution could be to classify various types of corporations and tier them. And then tax rules change accordingly. Similar to how tax breaks are given to startups.
- nojokes 5y agoIf they want to use their money then they have to pay dividends or wage.
- reedjosh 5y agoUnless they run a catering business out of their home. They need furniture, computer, food, and a home for that business, so boom...using the money 'for the business' tax free.