gbaji wrote:
There's also a huge difference between corporate "profits" and "income". When you understand that a corporation is simply a pool of money people have put together for common business cause, this makes sense. A corporation does not benefit from gaining profits the way a person benefits from gaining income. If you get paid, you have that money. You can spend it on whatever you want. When a corporation gains money, it may have come from a variety of sources, not all of which we agree should be taxed.
Well, the Supreme Court has ruled that corporations are people for some purposes, so I don't see why they can't be people for tax purposes.
And yes, there is a very big difference between income and profit. Profits are pure gain. Income is not. Virtually my entire income is taxed because I do not have much in the way of write offs. If I were a business(like my mother-in-law the lawyers), then I could write off huge amounts of things as "business expenses". The fact that I have many of the identical expenses she does, makes no difference at all. I can't write them off, she can.
Also, you're an idiot too.