Congress
Related: About this forumWhen the tax reform issue comes up, Dems should expand on the concept of corporations are people.
My understanding is that the constitution does not allow laws to protect or persecute certain groups of people. So if corporations are people their tax rares should be exactly the same as all of the other citizens. They should not be afforded special tax breaks. If they can use their personhood to make unlimited contributions to our elections in order to protect their free speech, then they should be taxed as any other citizen, not as a special class of person. They can't have it both ways.
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leftofcool
(19,460 posts)They need to think about getting people out there to run for office that can actually win. Democrats actually.
Warpy
(111,255 posts)in spite of a corrupt, corporate press that is hostile to them.
cbreezen
(694 posts)I don't have a response but it's though-provoking.
Lostnote
(75 posts)greymattermom
(5,754 posts)they owe separate taxes too, at the same tax rates that other people pay.
Jim Lane
(11,175 posts)This is a feature of the tax system that's sometimes criticized. The corporation makes a profit and pays taxes on that. Then, with what's left, it makes a distribution to its owners (the shareholders), and they pay taxes on what they receive. It's been attacked as double taxation.
Of course, when I write that the corporation "pays" taxes, that's shorthand for the theoretical tax rate that's on the books. How much is actually paid is a different question.
A few corporations are set up as Subchapter S corporations. They pay no taxes, but their net income is imputed to their owners as individual income, whether or not there's an actual distribution. That's a fairer treatment, and would be even more so if the individual tax rates were restored to the progressivity they once had.
KY_EnviroGuy
(14,490 posts)Send Goldman Sachs and GE to war, LOL.
I prefer to end all corporate contributions, PAC money, TV ads and corporate lobbying, and to apply strict limits on individual contributions. Force candidates back to mailing brochures and doing door-to-door campaigns! I'm also a dreamer.
modrepub
(3,495 posts)Remove federal funding to state and local governments who give tax breaks to corporations to move into their state or district. If Charlie the Pizza Store owner can't get a tax break then why should a mega corporation be forgiven years of taxes just to open shop?
lostnfound
(16,178 posts)Tons of expenses are deductible For business but not for individuals.
Broadly speaking, businesses pay on net income; indivuals pay on grosss income.
And there's no sales tax to pay when you buy stock, either.