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Politics : American Presidential Politics and foreign affairs
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To: Peter Dierks who wrote (23784)10/30/2007 5:07:03 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
"Having any corporate tax rate above zero causes distortions."

('Distortions'? Don't ALL taxes do that?)

"... Taxing retained earning prevents people from using corporations to avoid paying taxes almost indefinitely. Owners of corporations should be paying taxes, not the entities they create to organize businesses."

I'm fine with reducing corporate tax rate to ZERO....

IF, and ONLY IF, we do away with the legal presumption that corporations are 'people with infinite life'. Dump that little bit of legal legerdemain (which corps will *never* go for, by the way....), and I'm just fine with treating them like 'pass-through' entities, carrying a ZERO tax rate.

Re; ['special tax preference items', loopholes] "Whether you cal them tax preferences, carefully targeted credits, or any other feel good phrase they cause distortions."

Sure do!

And, WORSE then just random 'distortions', they are the way the government TILTS THE ECONOMIC PLAYING FIELD to artificially favor some groups, and disadvantage others... and the additive effect of all this 'tilting' and 'loopholing' is a REDUCTION in the total economic potential of the entire nation... because individuals and corporations structure their affairs - not simply to gain rational economic advantages by increased efficiency or innovation - but rather JUST TO CAPTURE NARROW TAX GAINS.

The paperwork hit is an additional economic burden that lowers the entire society's economic potential, too....
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