5 ms·
> Or you just scrap corporate tax entirely because it’s a terrible idea anyway. If you scrap corporate tax would rich people hold all their wealth in corporati
by pkaye 5y ago
> Or you just scrap corporate tax entirely because it’s a terrible idea anyway.
If you scrap corporate tax would rich people hold all their wealth in corporations so as not to pay any personal income tax?
- draugadrotten 5y agoThe best way to "tax" the rich is to make them spend all their money. The more the rich consume, the more the less rich benefit. It's turtles all the way down after that. So please order that custom yacht now, all you HN unicorns.
- bsanr 5y agoWhat if the point of taxes is not simply to redirect and redistribute funding, but also to reduce economic activity and, by extension, emissions and inflation?
- durnygbur 5y ago> The best way to "tax" the rich is to make them spend all their money. What a catastrophic idea. Do you want economy tuned to the tastes of the vain, wasteful, and capricious? In such economy there is no car, real estate, mobile phone, or clothes for you.
- matkoniecz 5y agoNot at all! It only redistributes work toward what rich people want. Investing into something actually useful would be much better. Scenario A: yacht is bought - economy is redirected toward luxurious yacht building, people get paid to work on building a yacht Scenario B: investment into housing - economy is redirected toward house building, people get paid to build houses scenario A can be a good one only when this people would be unemployed and seeking a work otherwise. Or if you think that building luxurious yachts is more important than alternatives.
- hoseja 5y agoHere we see a trickle-down advocate in the wild, folks.
- namdnay 5y agoYou tax it when they take the money out to spend it on themselves
- judahmeek 5y agoThat would require a progressive, rather than moralistic, sales tax.
- salawat 5y agoExcept they don't. They create corporations to do it for them. As long as creating a legal fiction is a mere matter of having someone else do paperwork, you either need to extract tax from legal fictions, or kiss a big chunk of taxable activity goodbye.
- fighterpilot 5y agoI don't think that's accurate if we're talking about large publicly listed companies, the only way for shareholders to spend the money on themselves is to take it out via dividends or sell the stock for a capital gain.
- Nicholas_C 5y agoShareholders can take out a loan for spending money that uses the shares as collateral.
- fighterpilot 5y agoTo pay back the loan they need to sell the stock which is a capital gains event. The two main tax avoidance strategies would be people running and retiring overseas just before selling, or never selling and waiting for the cost basis to be reset upon their death.
- runT1ME 5y agoThis isn’t legal. A corporation that leases someone a car and a house is paying them a taxable income, regardless of it not being a cash income.
- judahmeek 5y agoYes, Yes, they would.