Your solution to corporations using tax havens is to eliminate all corporate taxes?
How does that help?
They only pay 6% now, you are saying, so let's have them pay 0%?
How does that help?
They only pay 6% now, you are saying, so let's have them pay 0%?
What this does allow for is carrying over profits from year to year for small businesses that operate on a cash accounting basis. Which in turn allows multi year planning without taking a 22% hit.
Never extracting the profits would lock them away in the corporation with no means of spending them. It’s definitely a possibility, but it’s not really an issue for public corporations because the shareholders wouldn’t want a company just sitting on cash.
Where does it say that? And what are non-corporate expenses anyway? Keeping the founder happy surely is a corporate expense otherwise this guy would rot in prison
https://techcrunch.com/2024/04/01/canoo-spent-double-its-ann...
What if my company just held on to the cash but every share had some ownership of that cash. Sure, it probably wouldn't trade at par, but it would also be silly for it to trade at the payout rate considering it's non taxable.
Could the paper backed by my corporation become a new currency?
Companies buy sports arenas and private jets all the time.
Of course policy changes tend to remain half done, like Davos’ motto, and we’re left with two taxes.
At a minimum tax capital gains at the same rate as labor. Ideally, don't tax labor at all either, they are taxed plenty by inflation.