Saturday, November 30, 2013

I suppose a simple solution is too much to ask for?

U.S. businesses alarmed by Senate plan on corporate taxes - The Washington Post

Why on Earth can't they just eliminate corporate taxes altogether, and make all personal income "ordinary" income? Corporations would be expected to pay their investors, or reinvest in their business. Investors would pay taxes on their personal income. And not at the minuscule post-Reagan rate, they would pay taxes on earnings like any other flesh-and-blood person.

And by "all income," I do mean to include inheritance. The current $5 million exclusion could be preserved. The conservative claim that it's all money that has "already been taxed" is an outright lie. In fact, the vast majority of the money inherited by individuals is unrealized capital gains.

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