Should we get rid of corporation tax (part 2)

I would have preferred there be some reference to business ethics in the article because taxing corporations has moral implications. Nevertheless, my good readers are certainly capable of reading between the lines and getting the implications here. James Pilant

Inequalities

In the last post I talked about why so many people endorse the idea of completely scrapping corporation tax.  To briefly reiterate the main arguments:

  1. We don’t know who mostly bears the costs of corporation tax. So if what we really want to do is tax the rich beneficiaries of corporate profits, then we’d be better off raising capital gains and dividend taxes (or even the personal income tax at the high end).
  2. Corporation tax doesn’t work very well to discourage negative externalities like carbon emissions – a specific carbon tax would do this more effectively.

As I said last time, it seems to be economic gospel, even on the left, that the corporation tax is a ‘bad’ tax.

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Screw Sam! Reconstruct the Mortgages with their Rightful Owners (via Deadly Clear)

There is a lot of anger in this article. But I too share disgust with this government’s willingness to help out every kind of financial institution while ignoring the needs of the Middle Class. These people no longer have a defender in the government just a facilitator of the predation

James Pilant

Screw Sam! Reconstruct the Mortgages with their Rightful Owners U.S.Seeks Ideas on Renting Out Foreclosed Property By EDWARD WYATT Published: August 10, 2011 WASHINGTON— Uncle Sam wants you — to rent a house from Uncle Sam. The Obama administration said on Wednesday that it was soliciting ideas on how to turn the federal government’s inventory of foreclosed houses into rental properties that could be managed by private enterprises or sold in bulk. The goal, the administration said, is to stabilize neighborhoo … Read More

via Deadly Clear