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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (23769)	10/30/2007 12:47:27 PM
From: Peter Dierks	Read Replies (1) \| Respond to of 71588

Having any corporate tax rate above zero causes distortions. 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. 'special tax preference items', loopholes Whether you cal them tax preferences, carefully targeted credits, or any other feel good phrase they cause distortions. Set one low rate on all income and write it into the Constitution. When revenues fall, fire government employees and shutter departments. I think 5% would be more than adequate to maintain a federal government. 10% might even be tolerable.