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Politics : PRESIDENT GEORGE W. BUSH
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To: Neocon who wrote (204939)11/27/2001 7:15:02 PM
From: rich4eagle  Read Replies (3) of 769670
 
Yes, salaries of employees and expenses such as employee benefits are completely written off the top as a business expense, thus the corporation pays zero tax here and earns 100% credit against revenue. Dividends are treated the same way as corporate expenses and subtracted from revenue and do not count against net earnings. After all business expenses are paid including big three day seminars at luxurious resorts in Hawaii for management and corporate loge boxe expenses and dinners and meals and golfing clients etc, and the factory bills what is left is PROFIT. Unless this is taxed it becomes a mechanism to launder money tax free. If there were no corporate taxes on profit companies would opt to cut everything to the bone and load up profits at the expense of salaries etc. If some of this money is passed out as a bonuses using your logic should it be untaxed as well? Or perhaps the companies could pay the employees some small amount of monies for salaries and use the excess profits (untaxed by your standard) to pick up a lot of living expenses, autos, gas, meals, housing etc. We could use this as a great way to scam the US out of a lot of tax revenue. Make corporate tax free profits great and give handouts with them to company staff such that nobody pays much tax at all.

So the fair share on taxes for corporate profits should be the same basis as individuals, thus eliminating the temptation to use exotic loopholes to forego taxes by the employees and owners
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