On May 18, 2011, at 12:19 PM, Fred B. Ellison wrote:
Abolishing corporate income taxes is in your self-interest.
These taxes are unproductive as revenue-generators, but what they
really do is make politicians more powerful, at your expense.
I am on the fence on this, but it does have a certain sense to it.
Most large, successful corps avoid income tax by funneling profits to
countries like Ireland with 0% corporate tax and funneling expenses to
countries like US with a high rate. Companies with record-and-
increasing earnings post a loss in the US. There is no real way to
stop that kind of manipulation of bookkeeping in an income-based tax
structure. The same goes for payment of local workers.
Over time, a move to something like a national sales tax structure
would make that process easier. It is much harder to creatively move
purchase of resources across jurisdictions, especially if matched by
an excise tax. But we have to dismantle the existing tax structure,
get spending under control, and eliminate much of the culture of
exemptions and favoritism before I would support a new tax of any kind.
Sincerely,
Eric Vought
evou...@pobox.com
"We will pay the price, but we will not count the cost." --- Rush,
Roll the Bones
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