Forum Post: Corporate Tax Changes: My Proposal.
Posted 13 years ago on Nov. 21, 2011, 2:08 a.m. EST by badconduct
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I don't know if income tax on Corporations is "fair". All of the employees are paying their share of tax, so charging the business makes it sort of a double-tax on the employees (who will get less pay as a result).
Here's my tax plan.
Environmental Tax: Corporations would pay a tax based on two factors. A. The amount of waste they produce, in tonnage. This is general materials, packaging, average life-span of products (such as television sets). B. This would be multiplied by the same it takes for the product to bio-degrade. Example: McDonalds produces 10 tons of plastic wrap from their burgers. The plastic takes 100 years to bio-degrade. That's 100 x 10 in this tax system.
Income Gap Tax. This would be a tax penalty on the income gap of the Corporation. Rather than paying a flat-out income tax, this tax would increase and decrease based on the income gap in the company. If 90% of the staff is making minimum wage, but the executives and CEO's are making 7 or 8 digit salaries, the company will be penalized.
http://www.youtube.com/watch?v=4Z9WVZddH9w
Sadly taxes are far more complex. For example... the environmental tax you propose would essentially outlaw generating electricity by currently available mass production technology. Oil, coal, and nuclear, all produce waste that never biodegrades.
What I would like to see is a tax deduction of at least 2100 x the minimum wage. People earning minimum wage should not be paying income taxes.
Yes, but by that standard you could argue that oil, coal and nuclear material were put in the state by nature, thus they don't really "bio-degrade" since that is the natural form already. They aren't manufactured.
But yes, it would turn companies off of fossil fuels, including plastics.
That argument would be pro-fossil fuel. I'm a professional nuke. We end up making plutonium in the fuel, so we'd still be screwed. I suppose if someone is anti-nuke and they are OK with fossil fuel pollution, that would be a good system to argue for.
Plastics, in my mind, would be manufactured. There must also be a certain amount of "waste" in materials and mines that they would be accountable for as well, including any chemicals left in water supplies.
The thing is, with materials like nuclear, the maintenance costs of disposal must be close to infinity. If it does not decay, is it fair to leave the clean-up or potential hazard control up to the tax payer?
No, it isn't fair. Nuclear fuel can be reprocessed, and the plutonium "burned", but America outlawed reprocessing. So we are stuck with fuel that is poisonous for fifty thousand years. That is until the law changes.
We could send it off to space? But the cost of that alone...
Is income tax on employees fair? Let's see now, Federal Reserve Act 1913, oh look it's an Income Tax Act! Now where's that law ratification thingy?
Apparently none. But that's the sacrifice we make for the services we should be provided.
There should be a per-death Tax on any company that manufactures weapons.