Are you *pretending* to be dense... or are you *really* that dense?
1) Peter, corporations ARE "individuals with infinite life" under US law.
They HAVE BEEN for nearly a CENTURY now.
(You have acknowledged this fact previously, you do not dispute it... not that your acknowledgement is necessary since a fact is a fact, but I merely point it out to ask: why does this slip your mind so often?)
Consequently, taxing a corporation (legally an 'individual') for their income is no different from taxing any other individual for their income. It is NOT double taxation.
However, to be fair, ALL SOURCES of income should be taxed at exactly the same flat rate. That includes, obviously, corporations and all other individuals.
2) The Estate Tax is a SEPARATE TAX CODE PROVISION, and as such, should be eliminated. (We agree on this.)
Where we apparently disagree is that I believe that when an individual RECEIVES INCOME from an estate, they should be taxed on that income under the income tax provisions --- exactly the same as any other income, and at EXACTLY THE SAME FLAT INCOME TAX RATE.
ALL INCOME (whether it's 'earned' or 'unearned', whether it's from digging a ditch and being paid a wage, or it's from the mental effort of selecting investments, return on investments, or 'unearned' income received when a dead relative wills it to the individual) should be taxed at EXACTLY the same flat rate.
Are you clear now, Peter? Not confused or hallucinating about my positions any more?
Loopholes and 'special tax preference items' and other such special interest provisions (such as write-offs for debt service, why should one form of financing --- debt --- be *favored* by the government and all other forms of financing --- retained earnings, equity issuance, etc. --- be disadvantaged?) should be few and far between.
We should have a flat tax system, and the government should GET OUT OF THE BUSINESS OF TILTING THE ECONOMIC PLAYING FIELD AND CHOOSING THE WINNERS AND THE LOSERS IN SOCIETY. |
