Mott the Hoople
Sweet Jane
That's right. Eliminate it all together.
Our corporate tax rate is a joke. It's like 35% but no one really pays that 35%. Lots of loopholes and tax breaks. There's a secondary industry out there trying to market corporations on transferring assets to other nations for tax avoidance purposes.
So here's an idea I want consider. Instead of paying any tax any company filing a public offering in the U.S. will be required to provide 20% (I'm pulling that number out of thin air as the rate is negotiable) of the non-voting stock in that company to the U.S. Government
If the stock pays a dividend or has a buy back then the government receives revenue from it's shares profits. Essentially the tax rate would be a flat rate for corporations but it would be progressive in that only profits for that Corporation are taxed. That is if your companies stock didn't pay dividends then the government doesn't receive any revenue.
Our corporate tax rate is a joke. It's like 35% but no one really pays that 35%. Lots of loopholes and tax breaks. There's a secondary industry out there trying to market corporations on transferring assets to other nations for tax avoidance purposes.
So here's an idea I want consider. Instead of paying any tax any company filing a public offering in the U.S. will be required to provide 20% (I'm pulling that number out of thin air as the rate is negotiable) of the non-voting stock in that company to the U.S. Government
If the stock pays a dividend or has a buy back then the government receives revenue from it's shares profits. Essentially the tax rate would be a flat rate for corporations but it would be progressive in that only profits for that Corporation are taxed. That is if your companies stock didn't pay dividends then the government doesn't receive any revenue.
