Eliminate corporate income taxes and raise personal income taxes to 1944 levels....

[steve2470]

What would be the consequences ? I'm asking this because it seems large corporations are seeking other countries because of our supposedly "burdensome" corporate income taxes. Of course, if the corporate income tax was abolished, the treasury would take a massive hit, and that income would have to be replaced somehow.

I know there would be massive resistance from the wealthy to this idea, but, hey, no more corporate income taxes !

Feedback please. I'm not an economist or CPA, so I don't know what the unintended consequences would be from this idea.

Thanks, Steve

eta: 1944 taxes info here

[4b5f940728b232b034e4]

1. No!

That is only 81%. The 94% tax in 1944 is much more fair.

[steve2470]

2. I said 1944

I don't understand your reply.

[Vincardog]

3. I say YES. Since people are people My Friend, lets let them pay taxes as people

Get rid of every accounting trick they use.
What are your sales(income)?
Take the standard deduction and pay taxes on the rest.
BTW people can't issue stock as payment.

[procon]

4. Gawd help us!

We working class serfs are struggling as it is, and every year it gets worse:






Whatever tax scheme we have, the wealthy will always find more innovative ways to shelter their income and cheat Uncle Sam, leaving us peons to pay the difference because there is no one looking out for our interests.

Don't throw the baby out with the bathwater. By all means, look at a lower business tax rate as long as it also eliminates the juicy perks and loopholes, incentivizes investments in America, and heavily penalizes outsourcing, tax dodges and relocation to foreign countries.

[LiberalArkie]

5. I am ok with it, just as long as they pay local & state taxes with no deduction.

[steve2470]

6. any further comments on this ? nt

[Rassah]

7. Wrote this thread just for you

http://www.democraticunderground.com/111657362

[steve2470]

8. thanks, very helpful ! nt