Hits on my ideal tax reform.
Reader comment on: Bloomberg on Taxing Options
in response to reader comment: By what standards are US individual tax rates high?
Submitted by Lyle (United States), Jun 17, 2010 00:06
Abolish the corporate tax, and the reduced rates for dividends and cap gains. The individual tax is a lot harder to evade as moving offshore won't do the job. Put in a VAT for needed revenue. Then no matter what the source of income you get taxed the same. Of course this would push most small businesses into a corporate form but if you're not a corporation you don't have a very good lawyer anyway. Plus the ability to protect yourself from lawsuits.
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