Quote:
Originally Posted by Barry-xlovecam
Why? I paid taxes once already on that money as ordinary income.
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i am not sure if i really understood correctly ...
but as much as i know about worldwide tax systems it is like that:
if you run a company limited (means you are not liable when this company wents bankrupt) it is not you who ownes the company it is the capital.
if you pay yourself a salary - sure you have to pay personal tax but the company not because this salary costs are 100% deductable costs.
the idea of tax is that everyone who made a win gives something from that to the society back.
if you lower company tax under the level of personal tax - nobody take money out and pay what a usual tax payer have to pay.
i really canīt see any sense in that tax-loweing discussion because YES usa is a high tax country for coroporates (same as many other countries are) but i personally do not know many countries what exept so many, really strange deductable costs.
Additionally: USA is the one and only existing country in the world what have a legal tax oasis (delaware) in the middle of the country.
1,2 companies per each delaware inhabitant.
65% of them are fortune 500-listed companies.
for WHAT lower the tax when all these VERY BIG companies do not pay tax ?