Re:G7: Rich nations back deal to tax multinationals
by kapuasuite on Saturday June 05, 2021 @10:40AM
(#27405449)
The government could tax shareholders, i.e. the people who receive a corporations profits to begin with.
However I think the main downside on the abolition of corporate tax is that companies are hiring even fewer people with time (automation, subcontracting, etc) so the taxation "opportunities" are reduced if you only have "payroll"/income taxes and sales taxes.
The current situation leads to things like Starbucks having an exaggerated advantage over local cafes for example, since they 1) pay much lower effective tax 2) can have more advantageous rental agreements which leads to some ridiculous situations where one Starbucks is visible from another.
(Though yes, governments do overtax people and companies IMHO)