Abolish Corp Income tax once and for all.
Reader comment on: Tax Breaks and the Times
Submitted by Lyle (United States), Mar 27, 2011 10:17
Why not: Abolish the corp income tax given that the amounts spent in general to minimize and avoid it are likely quite high. Then the double taxation of dividends is gone so that you can abolish the dividend tax rate, and the cap gains rate on stock at least. If more revenue is needed go to a vat, in order to make our system more competitive with the rest of the world. It likely costs GE a pretty penny to pay for the Tax dept and all the lobbyists needed. Also I suspect the corp income tax results in decisions not being made in the most economic manner.
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