For C corps or in general? It seems to me that we’re going the opposite direction. We’ve had negative tax rates for a long time… I agree they’re dumb, but like you said in the other thread (or earlier in this one) people that get “refunded” money that isn’t theirs to begin with tend to not vote for the person that took it.
Ya… companies have had net negative tax rates for a long time. How much money in federal taxes do you think Amazon has paid since inception? I’m gonna guess a lot, lol.
Yeah I know. It’s a shitty scenario for people that aren’t idiots. In a perfect world I’d do away with negative tax rates. But that’s not realistic.
Specifically? Most of them imo. Realistically? I’d leave deductions in place and put a deduction cap so that your actual tax rate cannot go below X%
I was really hoping Trump would do that. It was one of the things I was genuinely excited for with POTUS Trump. Then that first year’s budget hit and bwoppppp MILITARRYYYYY
I was going to ask this question. Why SHOULD a corporation pay income taxes? Does every individual in that corporation(to the extent that they make enough money) not pay income taxes?
So… like an AMT for businesses? Is that a policy proposal anywhere. Be interesting to read one.
I would prefer a 5 page tax code myself. But I’ll just keep on dreaming. The economy loses so much money to tax and regulatory compliance. it’s insane.
Imagine if (work with me here) instead of all of those people who can understand business and do math shift their focus from playing non-value-add games (depreciation, amortization, LIFO, carry forwards, corporate structure etc…) to things like overtime rates, throughput, margin analysis etc… to actually drive the business forward and win in the marketplace.
More importantly I think the tax code is the #1 driver of corruption in the US. There’s so many favors and loopholes baked into it it’s not worth saving.
In the grand scheme it won’t really change anything. The next city will certainly be willing to corporate welfare Amazon’s face off so they build in that city.
But the people who stood to see massive property value increases in NY sure are going to be bitter when AOC runs for reelection