How about a little fairness?

If Corporations Are People Too, Why Do They Get Taxed Differently Than People? (Click on this heading to read more)

David Garber

Wednesday, November 27, 2013, 2:05 pm

 

Perhaps the easiest way to put the argument to bed as to whether or not "corporations are people, too, my friend," is to pass a clarification law stipulating that corporations are in deed people. (I know, it's crazy and we know they aren't, but let's for a moment say they are.) What would the next step be?

Well, for starters, we would have no, repeat no, federal deficit and individual taxes would drop precipitously. Why? Because PEOPLE don't get the advantages and tax loopholes of the Federal Corporate Tax Rate that allows them to skate on their tax obligations to this country. They would just pay the federal individual tax payer rate, like all of us "people," which they will then be.

Gone would be all those corporate write-offs, jets, yachts, huge parties and outings. Those huge offices and off-shore holding accounts. We could say bye-bye to tax credits for sending business overseas. If individuals don't get those benefits, either will the new "individuals." Oh, and too big to fail? That's gonna be gone too as no individual is too big to fail.