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Lowest-taxed group in each state of the United States
(lemmy.world)
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this post was submitted on 16 Apr 2024
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i'd be ok if we move income tax onto the corpo side of things.
Would mean that it's the companies responsibility to pay that tax, and no longer forces the IRS to go after joe shmoe, who fudged his finger on a 0 while it was still wet.
Or we could also just remove individual taxes, and tax corpos, that's where all money is anyway.
A company doesn't have a full understanding of your income. Sure, they probably pay most of it, but if you have a side job or investments or something else, they'd have no visibility into that.
Corporations are people my friend, and they should be taxed as such. They should also get the death penalty for criminal acts.
The issue is that we tax labor. Creating a company is a choice. People who survive off trading their labor have no choice. They have to perform labor. Taxing survival is inherently flawed.
You only need a profitable side hustle because you're being underpaid and stuck in the capitalists' system. This side hustle is already taxed like a company, it would be on you to structure it so you are a laborer of the company while also covering the company tax.
Investments aren't labor so they can be tax as they are now.
The main problem is that you can't imagine a system that doesn't have a personal income tax. I don't have the time or patience to go through their history of this so I'll leave that as homework.
The problem with sales taxes is they are always regressive. Carve outs don't help because the rich will just add loopholes.
The rich always propose this as a flat tax because they understand how they benefit from it.
One possibility might be to a progressive sales tax tied to inflation. For example 0% for the first $100, 5% up to $1000...by the time you get to yacht prices the tax would be 50% -- it's all important that corporations pay this same tax so they don't loop hole their way through having an LLC that owns the yacht and they simply "rent it" from themselves.
The big issue is how corporations are able to deduct the cost of business. If I could do this as a laborer, I would be able to deduct rent, food, vehicles, etc as the cost of supporting the physical entity that performs the labor.
But obviously that's not how any of this is structured because the human body is not a depreciating asset.. Even though it clearly depreciates with time and use.
You can have non linear sales tax.
I think they're saying to tax the profits of companies instead of individual income tax.
the company, the one that literally pays me my money, doesn't understand my income? I mean sure, maybe i work at multiple companies, and receive multiple paychecks. But like, let's be honest here.
who cares, 90% of what is moving through the economy is corpo money anyway.
Yes, this is the system we're in by design. The idea is that the private sector can get cheap loans and other handouts (government contracts, private-public partnerships, etc) for organizing the economy and will pass some of that money onto us commoners in the form of wages. It was designed like this because the politicians and their donors believe that it is more productive to organize the economy this way.
yeah, i'm not debating the functionality of the current economic system though. It's definitely up for grabs i suppose.
Mostly just pointing out that even in our current economy we don't really have a good excuse for most of this shit.