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View Diary: Steven Rattner offers ideas on raising tax revenue and I respond (72 comments)

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  •  That us exactly how S corps work (0+ / 0-)

    The income is attributed to the owners, not the business.  Taxes are due on income whether or not dividends are paid out.  Usually S Corps are small partnerships or family-owned businesses and I don't know if there's as much advantage to that model as there was back when corporate income tax was way higher than personal.

    If all companies did this, what would happen to big owners like pension funds and mutual funds when they are hit with the new taxes.

    I'm not opposed to this per se, I'm just trying to predict what would happen if income flowed to owners of typical publicly traded firms.  And imaging the income flows to Bain Capital and its dozens and dozens of subsidiaries will be Christmas for accounting firms.

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