| > segways smoothly into a controversial if not outright false water down ("...basically nobody paid...") 501 returns out of 50 million filers in 1963, with the top 1% paying on average just ~16% in 1962. > before accelerating out of the corner into just stating a position on hotly contested stare decis as flat fact ("Corporate tax is meant to..."). The purpose of corporate tax in the US is to generate public revenue. The history shows this very clearly. And just to be clear: the original comment conflated individual and corporate tax, and there's still an element of conflation in your comment. C corporations, which most big businesses are organized as in the US, are taxed on their profits. If and when profits are distributed to shareholders, the shareholders pay tax on the dividends. This is double taxation. Owner-employees are taxed on their salaries. And when they dispose of their shares, they pay tax on the capital gains. There are legitimate discussions to be had about wealth inequality, whether the current tax regime is suitable for the world we live in, etc., but the idea that punitive taxation (at the individual or corporate level) would be the best way to prevent exploitative business models and practices is dubious. This is exactly what tort law and consumer protection regulation is for. |