Universal Translator

Showing posts with label income tax. Show all posts
Showing posts with label income tax. Show all posts

Friday, May 6, 2011

About Last Night's Republican Presidential Debate

Just a quick note, because this is something that has bugged me for some time, because there is just enough of the hint of truth in it to turn it into a Zombie Conservative Lie such that it never dies, and because I haven't seen anybody else mention it yet. In fact, I have yet to see anybody remark on this statement at all, even though it is easily the most radical thing to have been said last night.

During the debate, Gary Johnson announced that he was in favor of ending - completely - all corporate income taxes. He justified this by arguing that corporate income is money that is "taxed twice." We all own the corporations, he said, so when a corporation makes money that money is taxed, and then when it is distributed to "us" it is taxed again and that isn't right. (Let's just skip over the fact that most Americans do not, in fact, own corporations, or even any stock in a corporation other than what might be held by our mutual funds.)

Goddammit.