20 Reasons to Kill Corporate Taxes

Three questions from a non economist

Isn't this just supply side economics? Hasn't the trickle down theory been tried before? Wasn't Reagan's plan supposed to stimulate production and job growth?

aurelius of NY @ Oct 02, 2008 11:14:46 AM

You'll learn kid

After you work for a corporation for a while, you'll learn that unless you're the CEO, a tax break for the company will NEVER translate into higher salaries for the workers. There are some pluses and minuses to lowering corporate taxes, but higher worker salaries as a reason is a total joke.

jerry of VA @ Sep 26, 2008 03:25:02 AM

Jimmy,

You are absolutely correct, corporations are legal persons that enjoy the same rights as natural persons (SANTA CLARA COUNTY v. SOUTHERN PAC. R. CO., 118 U.S. 394 (1886)) and thus should have the same privilege and duty to pay taxes as natural persons.

Chris wrote, "Corporations are only given "person" status for the sake of paying taxes and protection from the government. However, corporations are not persons. You can't tax something that does not exist in the literal sense. There is no actual person named Coca-Cola,.."

You are wrong as shown by 50 state laws and thousands and thousands of lawsuits filed by and against corporations. Here's a test for you Chris: buy some stock in Coca-Cola and then go to their corporate headquarters and try to take some of "your" office furniture out and see how fast Coca-Cola throws your ass out of "their" building and has you arrested for stealing "their" property. If Coca-Cola doesn't exist and are not an actual person as you insist, then you won't get thrown out or arrested, not bloodly likely though, LOL.

Spencer wrote, "Do you have a 401k or mutual fund? If so you should want the corporate tax gone because you would be able to save more for YOUR future...corporations are NOT bad...they employ MILLIONS of people.. you probably work for a corporation, dont you want them to pay you more?? Without this ILLEGAL tax they could."

Are you nuts?

Ford (exploding gas tanks), Firestone (tires blowing out), Enron (fraud and market manipulation), Halliburton (bribery, bid rigging, defrauding the military) and GlaxoSmithKline and Merck (tax fraud) are just a few examples out of thousands that show corporations are as bad or even worse than natural persons.

Most corporations don't pay very much or any taxes anyway as they avoid it by with loopholes, tax fraud, etc, such as “transfer pricing”. The savings from cutting corporate taxes will go to management salaries, perks, benefits, etc. with very little to none going to increase wages of non-management employees or in dividents to stockholders.

Here are better and more effective suggestions than cutting corporate taxe: 1. Limit management pay and CEO pay to nor more than 2x and 3x respectively the lowest employee’s salary, 2. Give them health benefits and stock options no higher than what is given to the lowest employee, 3. Get rid of management’s corporate jet, limo, private dining room, private gym and other unnecessary luxury perks. Pass the savings to stockholders or use it to grow the company’s business or to raise the wages for non-management employees.

Rudy of TX @ Aug 27, 2008 12:56:17 PM

Maybe in Theory

Like Communism, this might sound good in theory, but would probably not work out the way we'd all like.

D of AL @ Aug 27, 2008 11:21:41 AM

20 Reasons? That's barely 10.

James, if you couldn't think of 20 reasons you should have made the headline "10 Reasons ..." rather than repeat yourself. It doesn't help your position that half your reasons boil down to "Everyone else is doing it ...", especially since it's so easy for an opponent to say "So what? Their economy sucks compared to ours."

I'd rather have three really good reasons. You've got that, but their hidden in the weeds.

Brock of NJ @ Aug 26, 2008 11:39:08 AM

Loveing the income taax.

Joe six pack has income tax deducted from each paycheck.

He can elect to have extra payment taken out of his check so as

to bet a refund at the end of the year. Looks at it as a form of

savings. However he gets no interest on his savings in this case.

The government set it up this way. Smart of them. Takes the complaints off the system for government. Joe six pack loves the system.

of @ Aug 26, 2008 01:18:49 AM

loving the income tax.

Joe six pack has income tax deducted from his pay each and every

payday. He knows that if too little is deducted he can be fined.

He knows that overpaying does not result in a fine;but that he

will receive a refund at the end of the year on next years taxes

for overpayment. The government set it up this way. It is that

refund at the end of the year that makes joe six pack love the

income tax. He will not be found to complain about it because he gets something back each year (though less interest on his money).

Smart thinking on the part of government to slip that one in there.

I wonder why this has not been noticed by others?

copyleft.

of @ Aug 26, 2008 01:11:54 AM

Just a sidenote

"See the bigger picture, corporations are NOT bad.. " - spencer

Unless they outsource. I dont think Jimmy is the one who needs a brain.

some guy of CA @ Aug 26, 2008 00:36:37 AM