The party of no-

[Red Arrow]

With a little extra;  in addition to all the other subsidies the really rich enjoy during their ongoing class warfare against the poor, why should a corporation be allowed to deduct these "500 times" paydays as a tax deduction?  Just another BIG subsidy that Richey Rich's get paid for by the rest of us.  

Are you saying that corporations should pay income tax on their gross receipts rather than net income?

I won't argue whether or not an executive is worth 500 times the salary/wages of the little guy. Maybe a few are but most are probably not.

[heironymouspasparagus]

Isn't that getting dangerously close to what the "Fair Tax" is pointing at?

Or a VAT system?

MY thoughts are that corporations should be the conduit for pass through of all taxes.  They are already equipped with the bookkeeping resources to deal with that situation, either in house or from "hired guns".  (I hate to deal with corporate return AND individual returns.  No excuse for that nonsense.)

All taxes are paid by individuals, just some of them are currently funneled through the corporate path.  Let all of it go through that path and get the government off the people's back!  A corporation, by definition, is a tool for use by society to leverage our efforts for greater effect (See Peter Drucker), so why not use the tools we have and get some leverage??

And think of how the bureacracy needed to deal with a few million corporations would differ from the bureacracy needed to deal with those same corporations PLUS more than 100 million individuals!!  It certainly would not need to be nearly as large, nor cost as much!  Imagine an IRS that never had cause to deal with a private individual in any way, shape or form! 

And the elimination of how many millions of wasted hours per year by the taxpayers of this country?  What could you do with a couple dozen (couple hundred??) extra, currently wasted hours??

[heironymouspasparagus]

And all the Richey Rich's would get to keep their whole bucket of money!  As would you!  And me!

Except that everything will cost the equivalent of the taxes paid IN the cost of everything rather than being outside the cost.

[Red Arrow]

And all the Richey Rich's would get to keep their whole bucket of money!  As would you!  And me!
Except that everything will cost the equivalent of the taxes paid IN the cost of everything rather than being outside the cost.

It would be a windfall profit for states with sales tax.  They would be charging sales tax on prices which already include taxes.   I find it unlikely that sales tax rates would go down.

There would need to be mass exemptions for necessities or the shot heard 'round the world would be nothing compared to the cry of regressive tax structure.

I would need to really study the unintended consequences before endorsing a VAT. 

[heironymouspasparagus]

I don't want a VAT.  Embedding all taxes in the price paid is a slightly different twist.

[Conan71]

I don't want a VAT.  Embedding all taxes in the price paid is a slightly different twist.

Taxes are already imbedded in the prices of things you buy now.  A VAT or national sales tax like the fair tax is simply being transparent about it.

[Gaspar]

Tax vote just got the 60 votes.  Now it's back to the house for more politics.