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That's fine, and in exchange we get significantly more tax revenue and close a gaping tax avoidance loophole. If taxing profit was a good proxy for business act
by Spivak 2y ago
That's fine, and in exchange we get significantly more tax revenue and close a gaping tax avoidance loophole. If taxing profit was a good proxy for business activity companies would use it when making their pricing tiers. But they don't. They use revenue and headcount because profit can
and is gamed. I can't deduct my expenses on my own taxes and the world didn't end.
- svnt 2y agoIt’s an interesting point but your argument fails in that you get a standard deduction that probabilistically exceeds the expenses related to your job. Perhaps it would need to be something like x%revenue above $10M, y%revenue above 1B beginning after three years of operation.