> 4. Corporate tax receipts have been steadily falling as a percentage of GDP. [3] Why shouldn't corporations (that benefit from a healthy and educated workforce, a safe and secure environment, a working transportation system, etc.) be paying their fair share to keep the national debt in check?
1. Aren't shareholders already taxed? Maybe revise how they are directly taxed instead of indirectly taxing them again which they can compensate for (see point 2).
2. Aren't corporate taxes simply passed on as costs to customers and employees as lower pay and benefits? Maybe that's the opposite of what should happen, see point 1.
One loop hole that I think is more important to close is taking loans against volatile assets. This lets the very wealthy live lavish lifestyles without apparent income on any balance sheet, and so no tax owed. ProPublica documented this a few years ago IIRC.
1. Aren't shareholders already taxed? Maybe revise how they are directly taxed instead of indirectly taxing them again which they can compensate for (see point 2).
2. Aren't corporate taxes simply passed on as costs to customers and employees as lower pay and benefits? Maybe that's the opposite of what should happen, see point 1.
One loop hole that I think is more important to close is taking loans against volatile assets. This lets the very wealthy live lavish lifestyles without apparent income on any balance sheet, and so no tax owed. ProPublica documented this a few years ago IIRC.