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Sat Aug 30, 2014, 03:39 PM

Eliminate corporate income taxes and raise personal income taxes to 1944 levels....

What would be the consequences ? I'm asking this because it seems large corporations are seeking other countries because of our supposedly "burdensome" corporate income taxes. Of course, if the corporate income tax was abolished, the treasury would take a massive hit, and that income would have to be replaced somehow.

I know there would be massive resistance from the wealthy to this idea, but, hey, no more corporate income taxes !

Feedback please. I'm not an economist or CPA, so I don't know what the unintended consequences would be from this idea.

Thanks, Steve

eta: 1944 taxes info here

8 replies, 1262 views

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Reply Eliminate corporate income taxes and raise personal income taxes to 1944 levels.... (Original post)
steve2470 Aug 2014 OP
4b5f940728b232b034e4 Aug 2014 #1
steve2470 Aug 2014 #2
Vincardog Aug 2014 #3
procon Aug 2014 #4
LiberalArkie Aug 2014 #5
steve2470 Aug 2014 #6
Rassah Sep 2014 #7
steve2470 Sep 2014 #8

Response to steve2470 (Original post)

Sat Aug 30, 2014, 03:45 PM

1. No!

 

That is only 81%. The 94% tax in 1944 is much more fair.

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Response to 4b5f940728b232b034e4 (Reply #1)

Sat Aug 30, 2014, 03:46 PM

2. I said 1944

I don't understand your reply.

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Response to steve2470 (Original post)

Sat Aug 30, 2014, 04:16 PM

3. I say YES. Since people are people My Friend, lets let them pay taxes as people

Get rid of every accounting trick they use.
What are your sales(income)?
Take the standard deduction and pay taxes on the rest.
BTW people can't issue stock as payment.

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Response to steve2470 (Original post)

Sat Aug 30, 2014, 04:28 PM

4. Gawd help us!

We working class serfs are struggling as it is, and every year it gets worse:






Whatever tax scheme we have, the wealthy will always find more innovative ways to shelter their income and cheat Uncle Sam, leaving us peons to pay the difference because there is no one looking out for our interests.

Don't throw the baby out with the bathwater. By all means, look at a lower business tax rate as long as it also eliminates the juicy perks and loopholes, incentivizes investments in America, and heavily penalizes outsourcing, tax dodges and relocation to foreign countries.


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Response to steve2470 (Original post)

Sat Aug 30, 2014, 06:30 PM

5. I am ok with it, just as long as they pay local & state taxes with no deduction.

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Response to steve2470 (Original post)

Sun Aug 31, 2014, 04:16 PM

6. any further comments on this ? nt

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Response to steve2470 (Original post)

Mon Sep 1, 2014, 10:24 PM

7. Wrote this thread just for you

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Response to Rassah (Reply #7)

Mon Sep 1, 2014, 10:37 PM

8. thanks, very helpful ! nt

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