> I noticed the discussion on natural resources so I just wanted to point out the obvious
While what you said is certainly obvious, it had nothing to do with what I said.
> That's why it's pretty natural to have corporate taxes too.
It is absolutely idiotic to have corporate taxes. Corporations are nothing more than proxies for the shareholders. All profits are passed to the shareholders. Once they are, those shareholders then have to pay taxes on those profits.
You end up with double taxation.
In recognition of this, we create something called a capital gains tax, which is less than the normal tax rate ... and then tax corporations to compensate for that. Nice.
You end up with a situation where most of the taxes the corporations pay end up being passed to the consumer and the rich get a tax break. Is that what you support?
Get rid of capital gains, tax all income at the same level, and get rid of the corporate tax.
While what you said is certainly obvious, it had nothing to do with what I said.
> That's why it's pretty natural to have corporate taxes too.
It is absolutely idiotic to have corporate taxes. Corporations are nothing more than proxies for the shareholders. All profits are passed to the shareholders. Once they are, those shareholders then have to pay taxes on those profits.
You end up with double taxation.
In recognition of this, we create something called a capital gains tax, which is less than the normal tax rate ... and then tax corporations to compensate for that. Nice.
You end up with a situation where most of the taxes the corporations pay end up being passed to the consumer and the rich get a tax break. Is that what you support?
Get rid of capital gains, tax all income at the same level, and get rid of the corporate tax.