Opinion of this tax plan (user search)
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  Opinion of this tax plan (search mode)
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Author Topic: Opinion of this tax plan  (Read 821 times)
Santander
Atlas Star
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Posts: 28,023
United Kingdom


Political Matrix
E: 4.00, S: 2.61


« on: June 30, 2016, 04:54:42 PM »
« edited: June 30, 2016, 05:11:59 PM by Santander »

For business owners , or board members in a corporation you can offer them up to 50% deduction in their taxes(the deduction majority of the time isnt that big) if they hire more people then they lay off , hire people in the United States,and give your employees good salaries.
How can you have corporations as separate entities when you tax its principals and officers based on the actions of the corporation?

You say that you want to "eliminate nearly all deductions", yet you're suggesting a massive deduction that has loopholes you could sail an oil tanker through. Not only is this massively open to abuse, but even if it functioned correctly, it would mean that taxpayers subsidize winners while further punishing losers. This is government interference in the free market in the worst possible sense.

Sorry, but I think this is an awful "idea".
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Santander
Atlas Star
*****
Posts: 28,023
United Kingdom


Political Matrix
E: 4.00, S: 2.61


« Reply #1 on: July 01, 2016, 04:21:24 AM »
« Edited: July 01, 2016, 04:47:16 AM by Santander »

The rates are by house hold income
No buisness owners share of the company counts as their income and are charged on that
Capital gains taxes  and dividends tax stay the same
I would just keep the college , housing , medical expense deduction and This new deduction
So you're calling for the abolition of corporate taxes because you are saying that all businesses should become pass through entities (i.e. non-entities) for for tax purposes. You do realize that shares for publicly-traded companies exchange hands countless times over the course of a year, right? How exactly do you propose attributing earnings to all of those people?

You could put in the law during recesssions you can make the penalty less strict and make the incentive to hire people even more
In other words, arbitrarily adjust taxation law based on economic statistics that are calculated on a quarterly basis. Republicans sometimes blow things out of proportion when they say that unpredictable tax policy scares off investment, but you are advocating to do exactly that.
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