Comment Re:Corporate taxes are paid by their customers any (Score 2) 825
So now you have no benefits that aren't costing you tax from your salary too. So the value of the benefits plummets and thus people just demand a higher salary instead. Which, believe it or not, costs you more - the point of the incentives is that the person couldn't just earn that amount of money extra and get that incentive themselves anyway, it works by having expensive one-offs that mortals couldn't afford, and them remaining company property, etc.
You can't make outsourcing illegal. It's just a legal minefield and there's always a way around it. It would also cripple any modern economy overnight. This is truly a stupid suggestion in its own right.
End visas? No problem. But there aren't many countries in the world that have put a block on visas because they already have enough in-house talent. Believe it or not, this will make immigration drop which, again, will cost you all money.
The numbers may look bigger on the balance sheet, but the costs go up as well and may not be immediately noticeable.
The stock/futures things? Too complicated for me to tell what would happen, to be honest. Chances are there's a way to scam it to make enormous profit and not pay tax on it.
However, if you just tax the companies properly - a fixed portion of their income earned or brought into the country, and a definition of income that excludes any kind of "pay your own subsidiary" shenanigans - the prices for the consumer may well go up. But equally consumers will go elsewhere.
And maybe, just maybe, like Starbucks UK, you'll find that the prices have gone up because NOW they have to pay the right amount of tax. And if that means they can't be profitable, then their competitors who HAVE been paying the right amount of tax all along will win (e.g. Costa Coffee in the UK), because they can compete on a level playing field finally.
Tax isn't complicated. A fixed portion of what you earn. It's that simple. The problem is that to get their own 10% the lawmakers and accountants make things incredibly complicated to define exactly what you've earned. And they wrap it up in a thousand tiny taxes rather than one big tax.
Can someone explain why it wouldn't be better to have a "personal income tax" and a "corporate income tax" and scrap everything else? It's used for disincentives (e.g. tax on smoking in the UK) but, honestly, is that really worth it compared to just banning it or letting the markets speak?
It took 40 years to get to the point where smoking costs us more as a country than it makes in tax, and now we have a huge legacy of health problems ahead of us and STILL we haven't properly banned it but pissed away money on disincentives like plain packaging, hiding them away in the store, stopping their advertising, removing their capability to sponsor, etc.
I can't help but think that just the simplicity of "half what you earned" (which is about right for most first-world countries) would cut out so much red tape, confusion, administration and difficult enforcement that it would actually get you back MORE than all this complicated mess of exclusions and kickbacks that are in place now.
I pay road tax (road fund licence, technically, but it's a tax on road use the proceeds of which go to road maintenance - no different to taxing road use and the government having to maintain the roads generally), income tax, national insurance (healthcare tax), VAT (sales tax), a specific tax on petrol, a tax on pensions, a tax on insurances, a tax on bank interest and god-knows what else.
"How much money did you make from all sources last year? Give me half" seems to be pretty much the same as we have now, but without all this mess of shit to fall foul of and allow companies to scam.