Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/5/84; site terak.UUCP Path: utzoo!watmath!clyde!burl!ulysses!allegra!mit-eddie!godot!harvard!seismo!hao!noao!terak!doug From: doug@terak.UUCP (Doug Pardee) Newsgroups: net.legal Subject: Re: Corporate income tax Message-ID: <429@terak.UUCP> Date: Wed, 6-Mar-85 10:35:32 EST Article-I.D.: terak.429 Posted: Wed Mar 6 10:35:32 1985 Date-Received: Sun, 10-Mar-85 04:44:07 EST References: <2748@dartvax.UUCP> <445@ahuta.UUCP> <399@lsuc.UUCP> <110@styx.UUCP> <319@mhuxm.UUCP> <683@whuxlm.UUCP> <461@lsuc.UUCP> Organization: Terak Corporation, Scottsdale, AZ, USA Lines: 20 > By the way, there's been a lot of criticism of corporate tax rates > in this group. What good does taxing corporations do? They pay > their taxes out of income, you know, which comes from the consumers > who buy their products. Individuals pay all the taxes in the end. While the above statement is absolutely correct, I support abolishment of individual income tax in favor of business income tax. The reason? Businesses can afford to have tax lawyers go over their returns. Sure, they'll bill us individuals for it, but I think that there are far fewer businesses than individuals, so my share of the bill will be smaller than my bill for my own tax preparation. Another reason? The personal income tax laws in the U.S., at least, are a tar-pit. Once you have filed you must be around for the next seven years in case of an audit. And while you're around, you have to file tax returns, and... You can't legally just "chuck it all" and run off to Tahiti and be a beach bum, or whatever. -- Doug Pardee -- Terak Corp. -- !{hao,ihnp4,decvax}!noao!terak!doug