October 8, 2021

Corporations don't pay an income tax; they pay a profit tax. If they were paying an income tax, everyone's problems would be solved.

It's almost impossible to tax corporations, because the profit that is taxed is as elusive as a puff of smoke. Corporations burn their profits to keep the government from getting taxes. All they have to do to get rid of profits is do more partying and increase expenses on bonuses and other perks. They often rely upon waste, fraud and abuse to destroy taxable profits.

That's why some corporations pay no taxes and most pay very little. Before conservatives took over the world in 1981, corporations were paying 60% of federal income. Now they pay close to zero. It was around 5% before Trump (BT), but disappeared since then.

There is no reason not to tax corporations or even tax them heavily. They simply charge consumers for any expense they acquire. Then the consumers would be paying the taxes, which is a counter-argument. But they do anyway; and going through corporations is the right way to do it.

In other words, there should have been an expense tax for businesses all along. The value added tax of the Europeans is approximately the same thing as an expense tax with complex calculations designed to finesse the terminology.

The conservative argument that corporations need tax give-aways to produce products couldn't be a more infantile fraud. No corporation has ever needed more profit. Even if the stock holders get no dividends, the economy would be no worse off. Corporations are not dependent upon pleasing stock holders, as they already took their money, past tense, and lose nothing by ignoring them.

Taking away every penny of corporation profits would be of no relevance beyond improving the morality of rip-off artists. All expenses would still be met without profits.

Ignoring stock holders gets more virtuous all the time, as the stock market has become nothing but a gambling casino redistributing wealth among the rip-off artists. It serves no constructive function anymore.

Now days, corporations depend upon venture capitalists and angel investors. They don't need stocks until they get ready to maximize their rip off. That's because there is so much money floating around at the top of society that no one can find a use for it beyond financing new businesses.

Taxing corporations would have no effect upon global competitiveness, because the only thing the U.S. exports is large industrial products which others can't produce. The balance of trade deficit was being drastically reduced through trade agreements, until the Trump Administration threw out the trade agreements and screwed everything up.

Trump was not a cause over anything. He was too incompetent and disconnected to be cause. He simply removed all barriers to the criminality that conservatives had been trying to produce for forty years.

To improve production potential and global competitiveness requires increased resources for the general public, so the Steve Jobs types can get back into the process. The rip-off artists are so incompetent that they are stifling progress.

To get back into productivity would require the same laws that were in existence before 1981. Those laws were designed to prevent the ravages of commercial criminality that destroyed the economy.