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> So, to answer your question, there should be no corporate tax, and no VAT, if income tax is set at the correct level. It makes no sense for you, as an individ
by ClumsyPilot 3y ago
> So, to answer your question, there should be no corporate tax, and no VAT, if income tax is set at the correct level. It makes no sense for you, as an individual, to compare yourself to a corporation.
This is outrageous. Why does, in your world, a corporation have amore rights than a real person?
On the contrary, there should be no personal income tax, only Corporate taxes.
- christophilus 3y agoOr no taxes other than a flat national sales tax, probably with some rebate to assist the poorest X% of families.
- landemva 3y agoAnd repeal the income tax. And exempt from sales tax uncooked food at grocery stores.
- notahacker 3y agoWhich, like the "only income tax" would enrich the hereditary wealth dynasties at the expense of the sort of people that actually have to spend most of their income.
- pitaj 3y agoCorporate taxes are among the taxes with the highest dead weight loss, and the cost just gets passed on as lower worker compensation or higher prices of goods and services. The overhead associated with corporate taxes is also much higher for small businesses.
- ameister14 3y agoI know that's what a set of economists say theoretically happens, but I'm not sure that's actually borne out in the data. If you look at periods of wage stagnation and/or inflation, they aren't exactly positively correlated with relative high corporate taxes.
- tanaros 3y ago> the cost just gets passed on as lower worker compensation This applies to payroll taxes, but I don’t think it applies to corporate income taxes. Since corporate income taxes are typically levied against profit, not revenue, wages are paid out of “pre-tax” money. A high corporate income tax rate would actually incentivize paying higher wages and/or hiring more employees.