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View Diary: Shocker: Huge Companies Cost U.S. Billions Exploiting Tax Break Designed For Farmers Swapping Horses (86 comments)

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  •  It would be hugely beneficial (3+ / 0-)
    Recommended by:
    Ian Reifowitz, shaharazade, JerryNA

    to have rules be different for corporations and humans.

    Humans have finite lifetimes, and their assets eventually pass to another through death, which has its own tax treatment.

    Corporations have infinite lifetimes and can keep their assets forever. Corporations can live indefinitely even without income.

    Tax treatment that makes sense for one does NOT make sense for the other in many cases.

    An example in California is Prop 13, which reassesses property when it is sold. The solution is simple: a shell corporation is created solely to be the owner of the property... and then the property is never sold. Instead, the corporation is traded and sold.

    Humans can't do that.

    Fry, don't be a hero! It's not covered by our health plan!

    by elfling on Mon Jan 07, 2013 at 09:27:30 AM PST

    [ Parent ]

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