Re:Apple to contribute to U.S. teen's education for spotting...
by dv_dt on Friday February 08, 2019 @04:52PM
(#19119040)
What bothers me there is, according to my understanding, that taxation laws were changed in the last cuts so that foreign subsidiaries of corporations basically owe no US income tax on their profits (maybe ok, not sure there), but left alone the case if a US citizen relocates elsewhere and makes an income, only the first $xx,000 dollars are not taxed by the US.
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Re:Apple to contribute to U.S. teen's education for spotting...
by gnicholas on Friday February 08, 2019 @05:29PM
(#19119303)
Another inequity: corporations can deduct their SALT, but individuals can only deduct $10k of SALT. So many people derided Citizens United (corporate campaign contributions case) as granting personhood to corporations. But the new tax law actually grants more rights to corporations than to people!
Of course, I understand that corporations have always been able to do lots of things that people couldn't do, such as enjoy limited liability. But these are very close analogs, and there aren't any compelling policy reasons as to why corporations should get unlimited SALT deductions if people aren't given this privilege.