There should be no corporate tax.
- Thread starter Walter
- Start date
Oh, that old Chestnut.
You have no understanding of corporate financial affairs or taxation jurisdictions.
You have no understanding of corporate financial affairs or taxation jurisdictions.
Corporations are legal persons. They benefit from the services provided by the government. Therefore they should contribute to the treasury.
Your "pass on" argument is specious. Everybody passes on their expenses, including tax expenses. Sole owners of businesses pass on their tax expenses in pricing their goods and services. Landlords pass on their tax expenses by raising the rent. Wage workers pass on their tax expenses by demanding higher wages.
But at a lower rate calculated knowing that some of the tax has already been collected from the corps. But if they taxed dividends as income, and removed the corporate tax, it may be a wash.
I would support a zero corporate tax.. PROVIDED.. that we reestablish a truly progressive tax system that includes all individual income, including capital gains (except on primary residence).. with a top marginal rate of 75%.. for incomes over say $1 million.. and that all corporate profits leaving the country were taxed at a 50% rate. This would provide a powerful incentive to reinvest in the country.
Add this to the tariff revenues that would accrue with the rescinding of Free Trade Agreements.. with the intent of supporting full employment and an integrated national industrial economy. With that we likely wouldn't need Sales Taxes which depress demand. We should implement a tax on corporate retained earnings to further the incentive to reinvest.
Essentially its the system we had before the corrupt system of Free Markets, Monetarism (free markets in currency and credit) and Regressive Taxation took over in the early 1970s.
Add this to the tariff revenues that would accrue with the rescinding of Free Trade Agreements.. with the intent of supporting full employment and an integrated national industrial economy. With that we likely wouldn't need Sales Taxes which depress demand. We should implement a tax on corporate retained earnings to further the incentive to reinvest.
Essentially its the system we had before the corrupt system of Free Markets, Monetarism (free markets in currency and credit) and Regressive Taxation took over in the early 1970s.
Last edited:
No, not all but it remains an asset reflected in the stock price. Sitting on cash doesn't benefit a business but reinvesting does all while utilizing CCAs on new assets reducing taxes owed.
There are two options sit on assets and pay or grow and pay far less.
Let's assume that the idea that 'corporations pass on taxes to customers' holds water.
Let's look at a corporation that exports 90% of its products to other countries. Why should foreign customers get the benefit of these products without contributing to Canada's tax base?
Let's look at a corporation that exports 90% of its products to other countries. Why should foreign customers get the benefit of these products without contributing to Canada's tax base?
The executives get their golden parachutes while the rest of us get golden showers. It's win-win.
Been that way since the dawn of time except now we have a tag to label it. Can't biotch too much rich folks provide jobs.
where the hell do you get that "rich people provide jobs" .. lol. the myths you stupid ****ing liberals will lap up unquestioningly.