Taxing Families Like Companies
americancompass.org
Taxing Families Like Companies
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Re: Taxing Families Like Companies
#2> As a result, families pay a disproportionate share of federal tax receipts
This is simply because companies pay money to individuals who then pay taxes. This is a feature not a bug as taxing companies is less efficient from just having employee pay as a deduction that gets taxed downstream. Trying to tax this money before it gets to employees would result in double taxation as the company would pay and the individual would then pay again.
Also, labor is an expense so it’s logical with the reasoning of only taxing profits.
People who complain about “companies not paying taxes” are like the “47% don’t pay taxes” people in that they don’t understand the principles behind taxation very well, or are trying to deceive, or for some reason care about a specific tax.
This article would be impossible to implement since even simple things like being able to deduct food would favor the rich deducting foie gras over the poor deducting oats.
Re: Taxing Families Like Companies
#3How about we just ensure everyone has enough by implementing UBI or a negative tax rate, combined with medicare for all? Then everyone has what they need without the complexity of turning humans into financial objects.
Re: Taxing Families Like Companies
#4Of all the potential problems facing our species, running out of new people does not seem to be a concern at all.
I’m not surprised that during a worldwide pandemic, our birthrate fell in a society marked by ready access to effective contraception. I don’t think it’s reasonable to draw a straight line through that and worry about declining population, but I suspect this was written to be read about as reasonably as “A Modest Proposal” was.
Re: Taxing Families Like Companies
#5How about we just ensure everyone has enough by implementing UBI or a negative tax rate, combined with medicare for all? Then everyone has what they need without the complexity of turning humans into financial objects.
This would not work.UBI would raise inflation to sky high level making basic utilities and products super expensive.
UBI needs to be combined with taxes and tax exemptions on things that are essential to life like housing and healthy food,healthcare and some other things I cant think of right now.Everything else can be treated as a luxury and can be achieved through conventional capitalist methods.
Re: Taxing Families Like Companies
#6This isn't a new idea, the major complication is that the definition of "family" is much more fluid and fuzzy, both in practice and legally, than a corporation. When you create a corporation, there are bright lines as to what is inside the box and what is outside, plus a large number of rules as to how corporate structures can be composed and decomposed in virtually all cases.
That said, the tax code for people makes assumptions based on the world that existed in 1970 and is heavily optimized for that. It is a poor fit and creates onerous burdens for the increasing percentage of the population whose lives look nothing like those assumptions. I'd start reform by revisiting the assumptions about peoples' working lives baked into the tax code.
Re: Taxing Families Like Companies
#7The starting idea - federal tax share has shifted to individuals from corporations - is true, because of a long-term intentional shift to do that by successive governments. Once upon a time, corporations paid taxes. No longer.
The idea to solve that - make families into corporations - is ludicrous. Instead, we should raise taxes on corporations.
Re: Taxing Families Like Companies
#8No thanks.
2020/21, GME stock, Censorship of the truth all show us that our system is rigged and corrupt.
Better to start making plans to be rid of it.
Get some crypto, get some gold/silver, grow your own food, become self-sufficient.
Re: Taxing Families Like Companies
#9How about we just ensure everyone has enough by implementing UBI or a negative tax rate, combined with medicare for all? Then everyone has what they need without the complexity of turning humans into financial objects.
This would not work.UBI would raise inflation to sky high level making basic utilities and products super expensive. UBI needs to be combined with taxes and tax exemptions on things that are essential to life like housing and healthy food,healthcare and some other things I cant think of right now.Everything else can be treated as a luxury and can be achieved through conventional capitalist methods.
[deleted]
Re: Taxing Families Like Companies
#10In the UK, I get a little frustrated there is such a focus on an individual's income rather than a family's income - if you consider the tax paid by a pair of working parents each earning £50k vs a family where 1 person earns 100k and the other does not work, the pair earning £50k each are much better off. (Child tax credits are removed gradually as the higher earner exceeds £50k, as well as the tax bands meaning someone on £100k pays more tax proportionally than someone on £50k.)