Nice try, but nope.
Please enlighten us how the rich are even richer if we not only tax income more, but we also tax dividends and capital gains as income at a 1:1 ratio for ever dollar of lost corporate tax income?
Perhaps you missed that part of my position?
Hawkwin
Who will note that we would also need to eliminate the stepped up cost basis provided to beneficiaries but that should have a schedule of income realization - not unlike bene IRAs, so that it is not punitive to the beneficiaries.
You realize that is a vacuous promise. Taxing the rich more, the rich will beef up the GOP to cut taxes for themselves.
The country is left high and dry.
They are not similar to any other expense. Not remotely close. When you have a business, you have costs which are fixed: Rent. Salaries. Utilities. Cost of raw materials, and so on. All of those go into your pricing, and if you canât make a product which is competitive, you donât compete. Taxes donât exist until after you exist, produce, and sell. And even then, there may not be any taxes, because you are (corporate) taxed only on your profits. If you donât make enough profits, you donât âraise your pricesâ to cover the taxes, because you are constrained by your competitors from doing so.
Taxes donât happen until you are already profitable . The way you pay fewer corporate taxes is to make less profit, or no profit. The way you pay more taxes is to produce more stuff, produce the same stuff more cheaply (and sell as much), or do both.
âTaxesâ are NOTHING like other expenses. They come only at the end. Everything else comes at the beginning or middle.
You are right until the planning department meters out IRR.