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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (443624)	8/15/2003 5:01:52 PM
From: willcousa	Read Replies (2) \| Respond to of 769670

If you care to read the tax code you will see that it is income that is taxed not money transfers. For example, if you have a debt and that debt is forgiven you are taxed on the amount forgiven and no transfer of money has taken place. The stream of income which a corporation receives is taxed to the corporation and it is taxed again when distributed to the owners of the corporation in the form of a dividend. That is double taxation. Not all corporations are subject to double tax on their profits. "S" corporations, creatures of the tax code and otherwise every bit as much a corporation as DuPont is, are taxed only once.