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Thread: Corporate income taxes should be abolished.

  1. #1

    Default Corporate income taxes should be abolished.

    Oh yeah, I can see you all piling in here to tell me what an idiot I am and how evil corporations should pay more than their fair share and...

    Hear me out before you start going crazy...

    1) Corporations produce goods and/or services to be consumed by the populace. Their clients could be local, national, or global, it wouldn't matter. The price point of the product/service(s) any given corporation is delivering factors taxes into the final price. That means that the consumer is the one who ultimately pays the tax. That's right - if Wal-Mart, Costco, or (insert regional grocery chain here) pays a shitload of corporate income taxes, all that happened was you the poor bastard that bought groceries from them got to pay extra to cover their check to the IRS. Hence, the cost of goods and services nationwide would immediately decrease if corporate taxes were abolished, reducing the cost of living by a fairly significant amount, considering the interconnect of producers and consumers.

    2) If that isn't enough to sell you, how about this? The first stable country to wake up to this reality is going to be the one to win the global "relocation" game, and thus reap the benefits of millions upon millions of white-collar jobs (and the income taxes culled from said jobs) as multi-national corporations rush to relocate their headquarters (and all the support jobs needed to make a MNHQ function) to this first-world country.

    3) Say you don't buy any of the above. Ok, then if the US abolished all corporate taxes and, for example, treated investment income as regular income on the IRS forms, then not only would there be a net gain in IRS revenues, but every penny of corporate profit would wind up being taxed anyway, because the shareholders would all be ponying up instead.

    Have fun with this for a while, and tomorrow when I wake up I'll expand on it.

  2. #2


    Ok then...I guess ill have to get out my guns then for this thread

    Yea,I do have to admit on what you have to say big bussinesses are nice to have around because they have the money to do some nice things(winks at Microsoft)but there are some major flaws to big bussiness that I just dont like.

    Poor quatily products: I know your going to say that since the corperations have all this money then they can go make the best products but its kind works backwards...Ill tell you the story about The Pokemon Company

    The Pokemon Company used to make such great things with the limited budgets they had but after they became world known...The games...everything just went down the toliet and now these days, the stuff isnt that good anymore because of just how big of a company they are now and look at Pampers and Huggies...Sure the company that runs those brands is all big and all mighty but...the diapers...They are so bad of quatily diapers that I never have even thought of buying their products yet...In fact i have even found a small private lable brand thats even better then the two combind!

    So yea,coperations may make thing but its usually of a bad quality for the price(and another thing,two same products made by one big company and one small company...usually the small company will usually have a better price for the quality of the product because the big company is only focused on making money instead of the product itself)

    And yes i do agree that big coperations means lot of jobs but..they tend to be very..."off" to put it right...

    Now lets look at Apple the fun filled company that make Mac's an iPads...Nope! They hire commuists to do the work for them instead of puting jobs here in the US which we neeed really badly right now...That right! big coperation put those jobs to other countrys instead of the country thats where the company is seated at...Yes it may be cheaper but not by much anymore and those chinese have enough money now because of our coperations that we the people of the United States will become we the people of the United Chinese States of Amerca AKA the chinese can buy the US if they wanted to and I dont even know chinese!! So...

    Thats my rants for now untill you update the thread.

  3. #3


    We have very little reason to believe that prices would immediately drop upon abolition of the corporate tax. Instead, what would happen is the prices would remain stable and the corporations would laugh all the way to the bank while keeping their money and their labor in low-wage countries. We have present-day precedent for this, too, since the United States has amongst the lowest corporate tax rates in real terms (and they're competitive on paper, too) in the developed world. Hell, we have a tax regime now that allows huge multinational corporations (GE anyone?) to pay absolutely no tax whatsoever.

    Given that, where are the price decreases on GE products? Mr. Aurkarm and I were out shopping for refrigerators recently, and I can tell you GE refrigerators are no less expensive than any other major brand out there. Where are the American jobs from GE? I haven't seen any headlines about GE moving production from Thirdworldistan where the labor's so cheap it's effectively slave labor back to the United States where we have actual environmental standards and labor laws.

    Your premise falls into the same trap that so much libertarian nonsense does. It sounds really clever on paper, but then when it sees reality off in the distance, it can't stand up. It's actually a lot like communism as a system of government in that regard. It sounds really clever on paper, but it can't stand up in reality because it always gets perverted into totalitarianism. In this case, we've effectively abolished the corporate tax for at least some corporations, and yet we're not seeing the real-world effects we've been promised. I have no reason to believe that we'll ever see anything resembling the real-world effects that you suggest should happen.

  4. #4


    Wait, wait, wait. Aren't corporation people? In that case, why don't corporations just pay personal income taxes? There ya go, problem fixed

  5. #5


    abolishing income taxes would probably result in the corporations just keeping the prices where they are and pocketing the difference.

  6. #6


    Having minimum wage drastically increases the costs of good and services more then anything else. Should we lower this or drop these laws altogether as well?

  7. #7


    I'm with WBDaddy all the way on this one. Corporations are a fictitious entity, same as currency. Taxes ultimately come from all of us real people one way or another. Does it matter whether we get dinged by a tax? or by a corporate tax passed on in the form of a price increase?

  8. #8


    I agree with Aukarm. There is little reason to believe that corporations will pass the tax cuts onto the consumer. The other two points are interesting, though I'd like to note that a lot of corporate profit is reinvested into the company's growth rather than immediately paid out as dividends.

  9. #9


    We should focus on improving the middle class. We've already given corporation and banks to much of a free ride. We would just be giving corporations more power to make more profits.

    Innovation and job creating are important, but it's not possible in a economy were most of the people don't having any extra purchasing power.

  10. #10


    Quote Originally Posted by SubterraneanSun View Post
    We should focus on improving the middle class. We've already given corporation and banks to much of a free ride. We would just be giving corporations more power to make more profits.

    Innovation and job creating are important, but it's not possible in a economy were most of the people don't having any extra purchasing power.
    Dont forget about the lower class too!(what up with all this talk about the middle class when there a really wide gap between the poor and the rich) We people from the lower class make all the stuff you guys upstairs consume!

    But yea,innovation and job creation we need in the US.

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