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View Diary: Lucky Ducky, in "Gimme Shelter" (11 comments)

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  •  Eliminate corporate taxation and require that all (2+ / 0-)
    Recommended by:
    DSPS owl, Puddytat

    corporate profits be treated as passed through to the shareholders and taxed at regular tax rates and without any allowance for any sort of tax free treatment.  Also get rid of special tax rates for capital gains for individuals and make the hedge fund billionaires pay taxes on their loot too.

    Oh yeah.  Get rid of corporate personhood.  

    •  That would make it impossible (4+ / 0-)
      Recommended by:
      DSPS owl, David Michigan, catwho, Puddytat

      for a business to lay aside money for a rainy day. Maybe there's far too much of that right now, but zero isn't the answer.

      A tough retained earnings tax could be the answer, along with most of your other ideas. And a harsh, confiscatory estate tax, which will send poor poor Paris Hilton to... hm... well, somewhat fewer mansions.

      However, for any of this to happen, there would have to be a Democratic party.

      Early to rise and early to bed Makes a man healthy, wealthy, and dead. --Not Benjamin Franklin

      by Boundegar on Thu May 30, 2013 at 08:11:01 AM PDT

      [ Parent ]

      •  They don't lay aside money for a rainy day, they (0+ / 0-)

        borrow it.  If they have a profit under current law they pay tax on it up to 35% depending on what tax breaks and loopholes and assorted scams they can find.

        A small business owner who operates as an S-Corporation pays taxes on all the profits of the business on her personal tax return.  There is no laying aside that is tax free.

        And there would have to be a Democratic Party to do anything.

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