... only if it is preceded by a Constitutional amendment overturning Santa Clara County v. Southern Pacific Railroad Company, abolishing forever the concept of "corporate personhood", and restricting corporate charters for all corporations operating in the United States to no more than 30 years' duration.

Until then, let the corporations pay income taxes like everyone else.

We can go a lot farther a lot faster toward dealing with the George Bush War Profiteering Debt by taking the following steps (where I give numbers, recognize that they are back-of-the-envelope numbers, adjust as necessary as long as the principle is maintained), starting with the expenditures side:

1. We need to prohibit profiteering on government contracts not only in times of armed conflict, but always;  and we need to do it not only with military contracts, but with every government contract!

2. Besides limiting the profit margin of government contractors, we need also to restrict the maximum compensation of the CEOs of these companies.  Through legislation and regulation, we should limit the maximum compensation (including salary, bonuses, stock options, etc) of the most highly-paid employee of any contracting comapny to no more that 75 or 100 times the compensation of the lowest-paid employee of the company, or of the lowest paid employee of any subcontractor of that company.  This prevents the profit margin from being reduced artificially by paying the top officers gigazillions of dollars while the other employees get squat, or while the work is outsourced to underpaid subcontractors.

3. Of course, no company or employee of any company doing business with the government can be permitted to give any thing of value or any money to any government employee or political campaign.  Don't just write it into law, where it might be challenged on constitutional premises;  write into law that it must be written into every contract, so that violating it breaks the contract and prohibits the company, and every officer of the company, from ever doing business with the government again.

The prohibition against profiteering must be for all contractors, and at all times, so that military contractors can't claim that they are being unfairly discriminated against.

4. Legislate or enshrine in the Constitution Pay-As-You-Go balanced budgets.  This rubs the so-called Conservatives' noses in the fact that they were incapable of balancing the budget when they had a chance.

Then we can go to the revenue side:

5. Legislate steep (40-50%) "Patriot Tax" rate increases on the top 1% of income earners, including taxing all non-primary-residence-or-family-farm capital gains over $100,000 per year at the same rate as salary incomes of the same amount would be taxed; these rate increases to remain in place until the Iraq War and the GWOT are paid for in full, and the revenues lost as a result of the Bush Administration's tax cuts for the wealthy have been recovered... in other words, until our National Debt has been returned to pre-January 20, 2001 levels.

After that, the expenditure-side controls would do two things; prevent government contract inflation, and ensure that government expenditures benefit the largest possible number of people, while helping to limit the concentration of wealth in America.