Monday, September 25, 2006

We should abolish corporation tax.
Indeed, the CBO (a neutral and non-partisan organisation) recently published a paper [PDF] concerning who actually paid the tax in the USA. 70% of it was paid by workers in the form of lower wages, 30% by investors in the form of lower returns. None of it, not a jot, was actually paid by the companies: they're just a convenient bank account to take it from, not the people ultimately paying the tax.

Corporation tax, far from bashing the rich, actually does a great deal of harm to the incomes of the workers. We should abolish it.

Quite (and utterly deduceable by common sense, if you think about it).

1 comment:

Martin said...

DK,

Corporation tax is nothing but a secondary tax on consumption, uber-VAT paid for by customers and collected at the till.

There is no reason for it to exist other than political greed.

Ronald Reagan - "It's people who pay taxes".

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