Reply to post: Which one are you?

Woz says 'Jobs started Apple for money' – then says it must pay 50% tax like he does

CRConrad

Which one are you?

"In that vein, there's also a very logical argument that corporations should pay no tax at all on their profits, because their purpose is to distribute profit to their shareholders, and you can then tax those shareholders on that income, and tax them at a higher rate than currently. (for Corporate shareholders, you just keep applying the profit distribution until you reach a living human who can be taxed on income)."

And that's why everybody will (pretend to) leave the profits in the corporations, accumulating without ever being taxed. In reality, they will of course siphon them out either as "fringe benefits" with lower tax rates, or none at all; or the really big boys will shuffle them around and extract them off-shore. That "very logical argument" is only "very logical" for the fat-cats, or their more-or-less unwitting patsies.

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