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Holy lucre ! 300 billion in lost revenue . That has to be wrong. Even at a tax rate of 30% (way higher than the US effective rate) that implies one trillion dollars each year gets hidden from the IRS. That will solve every budgetary crisis going.
Earlier quoted context omitted.
Do you think it makes sense to compare personal and corporate taxes? Corporations are generally far better equipped to spend money avoiding taxes, so it probably makes more sense to try to keep loopholes to a minimum and evaluate whether the effective rates are appropriate for the parties they apply to. The article you link discusses the very wealthy having taxation dominated by the lower taxes on investment income.…
Do you think it makes sense to compare personal and corporate taxes? Yes. Corporations themselves want to apply the Constitution to the corporation as if they're a "person", therefore, it makes sense to compare the corporate tax rate to the personal tax rate.
You may argue that tax rates are too high or low for both or that there are too many loopholes but that is a different discussion. I don't think anyone actually wants to see the same tax legislation for businesses and for people - it makes no sense what so ever.
Holy lucre ! 300 billion in lost revenue . That has to be wrong. Even at a tax rate of 30% (way higher than the US effective rate) that implies one trillion dollars each year gets hidden from the IRS. That will solve every budgetary crisis going.
No, spending will increase to match.
Sounds like Sweden. Some guy got a fine for saying something on his own Facebook page about his RV that was under the company. BOM. 400k to be paid.
I have no idea if Skatteverket (IRS equivalent) were right in their decision but the guy did lose in the first court instance.
Also: If the Facebook page was public and Skatteverket were questioning the legitimacy of the 'business purchase', why shouldn't they check the page? Basing the decision on only one status update seems a bit strange though.
Meanwhile the fat cats pay little, or no taxes... GE paid 7% in 2010, partly due to the poor economy. How many of us wish we could get away with only paying 7% tax? http://money.msn.com/taxes/latest.aspx?post=26d490bd-7317-4f...
Do you think it makes sense to compare personal and corporate taxes? Corporations are generally far better equipped to spend money avoiding taxes, so it probably makes more sense to try to keep loopholes to a minimum and evaluate whether the effective rates are appropriate for the parties they apply to. The article you link discusses the very wealthy having taxation dominated by the lower taxes on investment income.…
Earlier quoted context omitted.
Do you think it makes sense to compare personal and corporate taxes? Corporations are generally far better equipped to spend money avoiding taxes, so it probably makes more sense to try to keep loopholes to a minimum and evaluate whether the effective rates are appropriate for the parties they apply to. The article you link discusses the very wealthy having taxation dominated by the lower taxes on investment income.…
Corporations have legal personhood, so yes; it makes sense to compare them.
Earlier quoted context omitted.
Do you think it makes sense to compare personal and corporate taxes? Yes. Corporations themselves want to apply the Constitution to the corporation as if they're a "person", therefore, it makes sense to compare the corporate tax rate to the personal tax rate.
No it doesn't. Corporate tax legislation is not the same as personal tax legislation, therefore a comparison is irrelevant. Even if corporations would be treated as people, as long as the legislation is different it does not make sense to compare the two. You may argue that tax rates are too high or low for both or that there are too many loopholes but that is a different discussion. I don't think anyone actually wan…