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Originally Posted by August
Nice bit of disinformation there Sky. Corporate profits go to their shareholders who pay income tax. What you're arguing for is basically double taxation. Taxing the same profit twice.
Like I said. The Federal government has no right to regulate the pay of private citizens. You want to talk about the death of a democratic regime, there it is.
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No, a large majority of profits are paid to CEO's, not shareholders and mass amounts of profit sit in overseas tax shelters. Just compare your average shareholders worth compared to the CEO's.
Capitalism doesn't equate you do what you want. We built the strongest middle class in history based on a high corp. tax rate, fair regulation and trade laws, thanks to Bush and others those no longer exist and now 10% control 80% of all wealth. It will be the ruin of this nation as we move into a two class society where rich CEO's have no loyalty to any nation in the global economy, but it will still eventually ruin them as well.
Most studies show another 20 MILLION US jobs will be either moved overseas or simply hired overseas in the next 10 years by US corporations if current trends continue.
I'm not even sure why we call them US corporations anymore.