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To: Charles Tutt who wrote (59433)	3/11/2004 4:24:03 PM
From: Robert	Read Replies (1) \| Respond to of 64865

Raise corporate taxes! Look at page 7 in Berkeshire Hathaway's annual report (at berkshirehathaway.com and it shows coporations pay only 7.4% of tax receipts, down from 32% in 1954. Individuals contribute 43% of tax receipts!!!!!! (From the 1040 instructions at irs.gov page 76). Simply doubling the amout of taxes corporates pay to 15% would eliminate the deficit. You could even raise corporate taxes to the long term average of 20%, eliminate the deficit and have a tax reduction for individuals!!!!! Why can't companies have an AMT like individuals? This would eliminate many loopholes in the tax code, like it does for individuals. This would make sure they pay their fair share of the tax burden. Raising taxes would also mean less offshoring. The benefits of cheaper overseas labour, which is reflected in higher profits, are paid back the US population as higher revenues for the government. Raising taxes would not mean higher prices for consumers. Consumers are already maxed out on credit, so their demand curves are already very tight. Companies would just have to do with less money for top executives than before.

To: Charles Tutt who wrote (59433)	3/11/2004 4:25:02 PM
From: Robert	Respond to of 64865

Raise corporate taxes! Look at page 7 in Berkeshire Hathaway's annual report (at berkshirehathaway.com and it shows coporations pay only 7.4% of tax receipts, down from 32% in 1954. Individuals contribute 43% of tax receipts!!!!!! (From the 1040 instructions at irs.gov page 76). Simply doubling the amout of taxes corporates pay to 15% would eliminate the deficit. You could even raise corporate taxes to the long term average of 20%, eliminate the deficit and have a tax reduction for individuals!!!!! Why can't companies have an AMT like individuals? This would eliminate many loopholes in the tax code, like it does for individuals. This would make sure they pay their fair share of the tax burden. Raising taxes would also mean less offshoring. The benefits of cheaper overseas labour, which is reflected in higher profits, are paid back the US population as higher revenues for the government. Raising taxes would not mean higher prices for consumers. Consumers are already maxed out on credit, so their demand curves are already very tight. Companies would just have to do with less money for top executives than before.