Deal I'd take in a heartbeat:Repeal corporate income tax, scrap the cap, tax capital gains and dividends at normal rate
@JayAckroyd If those corporate individuals aren't paying taxes, can that also mean they can't donate to politics?
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@emptywheel sadly no.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@emptywheel Rs would try to stop repeal as senior managers. It'd shift tax burden upward.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@emptywheel interesting implications for PPACA as wellThanks. Twitter will use this to make your timeline better. UndoUndo
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@emptywheel@JayAckroyd point is substantively about laundering. Tax free orgs launder. -
@iwelsh yes that's the best objection. Effect is greatest on small privately held firms. But currently personal income becomes Corp expense -
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@JayAckroyd Tax free accumulation by any private actor is a super bad idea because of compounding effects. -
@iwelsh And isn't that exactly what we are seeing with low marginal rates and effectively no estate taxes? -
@JayAckroyd sure, so let's not do more of it? -
@iwelsh My suggestion is to shift the taxes to individuals.
End of conversation
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