Actually, this is not a crazy idea at all. If working people (and small businesses) are going to be required to pay taxes on their income, then it is only fair that corporations (many of whom make billions in profits each year) should do the same. And the best way to "persuade" them is to eliminate unneeded subsidies, close tax loopholes, and deny them the ability to hide money overseas to avoid paying taxes. There is simply no justification for any company making millions or billions in clear profit to not pay taxes (or to pay only a tiny amount).
Make them pay taxes AND a livable wage. This will increase government revenue and reduce social welfare costs, both of which will reduce the deficit. Companies benefit too. Wages are a deductible expense.
ReplyDeleteWait, wait. Corporations are people and people pay taxes. WTF??
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