Corporate and personal income taxes

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Re: Corporate and personal income taxes

Unread postby Jacketh » 24th March, 2017, 5:41 pm

I'm not sure it does, it says 'red tape' and 'regulation' but doesn't explain actually what any of it is, does it?

In Europe, a lot of Scandinavian countries do have a really good reputation for being business friendly and it is easy to start up there.Which might surprise some people, as because of Bernie Sanders people look at Scanadinavia as some sort of socialist utopia. It is true that these countries have a minimum wage, high tax rate, and have a lot of 'red tape' in the form of regulation from their own country and the European Union. But often or not, that red tape is in the interest of fairness and makes the whole system run smoothly. And despite that red tape and regulation, some Scandinavian countries are some of the most attractive places in the world for entrepreneurs.

https://www.forbes.com/sites/kurtbadenh ... 63fb956024
http://www.copcap.com/newslist/2014/den ... -the-world
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Re: Corporate and personal income taxes

Unread postby Sullivan » 25th March, 2017, 10:43 pm

I think a defining issue of our times is that we still organize ourselves politically mainly through the nation-state, a child of the nineteenth century, while our modern economy operates on a global scale.

It would be nice if questions of taxation could be reduced to all these tidy charts, but they almost certainly can't. In the U.S. at least—and I doubt it's substantially better elsewhere—our tax code is arcane and complex thanks to and for the benefit of those with the resources to manipulate it. Someone only making $40,000 a year will probably just pay the rate stipulated by his income bracket. But, if you're a billionaire or a transnational corporation, with business dealings and property scattered across the globe, your capacity to avoid proper taxation in—or thanks to—whichever nation you're nominally resident of is quite extensive. (To offer anecdotal support: my law firm does trust and estate planning for high net-worth individuals, and one client recently wired $100 million from Switzerland into our account using some kind of special, non-taxable SWIFT code.)

My view is that the most potent tax reforms we could impose would need to be enforced on a supranational level, and for that reason I don't see the status quo dramatically improving any time soon. Oh, and obviously all of the above is predicated on the notion that redistributive taxation is a social good.
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Re: Corporate and personal income taxes

Unread postby Arty » 26th March, 2017, 2:55 pm

Jacketh wrote:I'm not sure it does, it says 'red tape' and 'regulation' but doesn't explain actually what any of it is, does it?

In Europe, a lot of Scandinavian countries do have a really good reputation for being business friendly and it is easy to start up there.Which might surprise some people, as because of Bernie Sanders people look at Scanadinavia as some sort of socialist utopia. It is true that these countries have a minimum wage, high tax rate, and have a lot of 'red tape' in the form of regulation from their own country and the European Union. But often or not, that red tape is in the interest of fairness and makes the whole system run smoothly. And despite that red tape and regulation, some Scandinavian countries are some of the most attractive places in the world for entrepreneurs.

https://www.forbes.com/sites/kurtbadenh ... 63fb956024
http://www.copcap.com/newslist/2014/den ... -the-world


Actually The Scandinavian countries have no minimum wage that's set into law. Minimum wage is negotiated by labour unions of the specific industries with their employers. Also Scandinavian countries have very low corporate tax rates to encourage investment into the country, Corporate Tax in sweden is 22% whereas the minimum tax rate for earnings is something around 35% and a maximum tax rate of 60%. So yeah, food for thought.

The story is the same in Denmark too.
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Re: Corporate and personal income taxes

Unread postby FirePhantom » 26th March, 2017, 6:40 pm

I recently stumbled across a video that proposes a corporate income tax based on the level of automation (i.e., fewer employed workers means higher taxes on profits made through use of non-human 'labour'). It's a really interesting idea which I'd never come across!

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Re: Corporate and personal income taxes

Unread postby Pity » 26th March, 2017, 7:14 pm

An automation tax is a really interesting idea, but the first question that comes to mind is "what counts as a robot?" Does a self-checkout machine at a grocery store count as a robot? What about a business using a tax-preparing program like TurboTax instead of an accountant?

The future is frightening and exciting!
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Re: Corporate and personal income taxes

Unread postby FirePhantom » 26th March, 2017, 7:20 pm

Yes and yes, those absolutely count as forms of automation from which profit is made at the expense of human livelihood. Some of that profit should go at the very least to retraining those humans to do something else within the economy, if not simply going to them directly so they can continue participating in the economy as a consumer.
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