Exactly. If we really think taxing corporate profits is a good idea, then let's direct our ire at our elected representatives for cutting corporate taxes and adding ways for companies to avoid paying tax.
Ultimately, though, I'm not sure taxing corporate profits is all that useful. Increasing income taxes for higher earners, giving the estate tax its teeth back, and possibly implementing a wealth tax, will likely give the same (or better) results, while eliminating so much of the waste that goes into creative accounting and keeping cash and income segregated in tax jurisdictions more favorable to the company.
On top of that, I would also be in favor of executive pay caps (expressed as a multiple of the average or median employee salary, or something), which could encourage companies to pay their employees better, or be stuck paying their executives worse. Incentives for reinvesting profits domestically could also help keep companies from hoarding cash.
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Exactly. If we really think taxing corporate profits is a good idea, then let's direct our ire at our elected representatives for cutting corporate taxes and adding ways for companies to avoid paying tax.
Ultimately, though, I'm not sure taxing corporate profits is all that useful. Increasing income taxes for higher earners, giving the estate tax its teeth back, and possibly implementing a wealth tax, will likely give the same (or better) results, while eliminating so much of the waste that goes into creative accounting and keeping cash and income segregated in tax jurisdictions more favorable to the company.
On top of that, I would also be in favor of executive pay caps (expressed as a multiple of the average or median employee salary, or something), which could encourage companies to pay their employees better, or be stuck paying their executives worse. Incentives for reinvesting profits domestically could also help keep companies from hoarding cash.