Pandora papers: biggest leak of offshore data exposes financial secrets of rich

Re:Pandora papers: biggest leak of offshore data exposes fin... by no_wizard on Sunday October 03, 2021 @09:28PM (#28742062)

As far as the taxes bit, at least here in the USA I always felt that we should just get rid of corporate taxation entirely, and instead tax ya know, the CEOs etc the difference, which in effect means taxing capital gains like regular income for instance.

That would do wonders for businesses to simplify the tax schemes and really moves the taxation portion to the individuals.

I’m sure like any tax reform this has edge cases and stuff I know I haven’t considered but wouldn’t the upside be taxation happens more uniformly as a result?

[ Parent | on HN ]

Re:Pandora papers: biggest leak of offshore data exposes fin... by Pokepokalypse on Monday October 04, 2021 @11:15AM (#28747783)

If we get rid of corporate income tax (and we should), we should absolutely bill corporations for ALL use of publicly-funded infrastructure.

- use of public highways (reimburse in proportion to wear-and-tear, etc).

- use of public regulatory agencies like the FCC and FAA (to permit broadcast spectrum and airspace to be useful resources without everyone grabbing all of it all at once).

- very expensive use of US military to enforce international law, or to protect assets in foreign countries.

- use of publicly funded education to train their workforce.

I could probably go on for pages and pages but these are probably the big ones we spend the most money on.

I think a few months of this system and most corporations would be BEGGING to go back to simple income tax where they can game the system and scam their way out of paying what they owe.

[ Parent | on HN ]

Re:Pandora papers: biggest leak of offshore data exposes fin... by marto1 on Monday October 04, 2021 @03:25PM (#28750953)

That's great and all, but the tax revenue in absolute terms from corporations is probably several orders higher than what you can tax a rich CEO.

Just something to keep in mind.

[ Parent | on HN ]