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View Diary: Corporate tax rate should be zero, says Honeywell CEO and Simpson-Bowles commission member (22 comments)

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  •  Robert Reich agrees (5+ / 0-)
    Recommended by:
    VClib, MGross, rivercard, ferg, coffeetalk

    and I think makes a fairly convincing argument in his book "Supercapitalism."

    But what he says that... while the money remains in the corporation... it should not be taxed because while it remains in the corporation it remains productive money put to productive uses (for the most part).

    But that when the money comes out of the corporation in the form of compensation, capital gains, stock dividends, bonuses, whatever... into the hands of individuals... that it should be taxed as any other income.

    It is a very interesting and somewhat compelling argument. I am not completely sold on the idea but it makes a lot of sense and if the numbers back it up then it is one I could buy into.

    "Do what you can with what you have where you are." - Teddy Roosevelt

    by Andrew C White on Thu May 31, 2012 at 01:20:13 PM PDT

    •  somehow I doubt (2+ / 0-)
      Recommended by:
      rivercard, trumpeter

      that is what Cote was getting at.

    •  Precisely this. (2+ / 0-)
      Recommended by:
      coffeetalk, Andrew C White

      You'll have to be careful that people don't end up attempting to compensate themselves with all forms of corporate-provided property, but really, it's the better solution.

      Ultimately, money earned by a corporation is useless for anything except expanding the business (which is kind of what you want to incentivize)

      To be paid to either the workers or the shareholders, it would then have to be subject to taxation.

      Corporate tax is where we suffer the most tax competition, as a nation, so it makes sense to minimize the tax people kind easiest to dodge while increasing the tax people have difficulty dodging.

    •  Buisiness is sittting on a record amount of cash (0+ / 0-)

      This would only increase as tax rates went to zero.  
      How in the world is it in the states interest to tie up all this capital?

      These capitalists generally act harmoniously and in concert to fleece the people, and now that they have got into a quarrel with themselves, we are called upon to appropriate the people's money to settle the quarrel. Abraham Lincoln

      by Nailbanger on Thu May 31, 2012 at 01:48:23 PM PDT

      [ Parent ]

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