In a message dated 9/30/2010 9:53:50 A.M. Eastern Daylight Time, glen...@earthlink.net writes:
When I first heard a form of this, the first million dollars of revenue was to be exempted. This was supposed to exempt the vast majority of local businesses and allow taxation of big multi-national corporations who pay little or nothing . Multi-nationals can pay nothing in gross receipts and avoid net profits through accounting tricks. A million dollar threshhold would be better, but still not good. True, the $100,000 gross in the bill as described in the DN would be a disaster to a lot of businesses whereas $1 MM would spare a lot of small entrepreneurs and others in classes where net is a low fraction of gross. But any such threshold is arbitrary and who's to decree where it should be placed? Further, as one comment on the article pointed out, this cockamamie scheme violates the equal taxation clause of the Pennsylvania Constitution (but what does Bill Green or Maria Quinones-Sanchez know (or care) about anything as unimportant as the Pennsylvania Constitution?). Yes, there's a need for the city to get a fair share of taxes -- not only from multinationals but also national companies who do business in Philadelphia but have headquarters elsewhere. This, however, ain't it. By a mile. ------------------------------------------------------------------------- Alan Krigman KRF Management, ICON/Information Concepts Inc 211 S 45th St, Philadelphia PA 19104-2918 215-349-6500, fax 215-349-6502 krf...@aol.com or al.krig...@krf.icodat.com
