Quote:
Originally Posted by Guest
corporation don't pay taxes. period
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I could argue that corporations shouldn't pay taxes. It only gets passed along in their goods and services.
On the other hand, I could argue we should eliminate the personal income tax. Most people don't actually pay income taxes. It's withheld before they get it and they never actually see the money. It's just paperwork. Why not replace the personal income tax with a "wage tax". A wage tax paid by an employer on wages paid. Realistically, they pay the personal income tax anyway. In fact, they overpay because most people get a refund.
The wage tax approach could be very efficient. Indeed, we could get to the long talked about flat tax. Suddenly, it wouldn't matter about the recipient, rich or poor. No need for personal exemptions, medical deductions, or anything.