Originally Posted by
Zealot7
I'll be honest, I've no interest in an argument or a back and forth given I had one with a friend over the weekend. I'll just say this:
I'm of the opinion that government spending and subsequently taxes should be much lower than they are currently. It's a libertarian viewpoint. We all here more than most see the dire consequences of giving the wrong people too much power - Fitzgerald and her ridiculous imminent Sexual Offenses "Law" despite massive evidence to the contrary and opposition against it being an example.
Anyway more on topic... I don't see why you have to tax a company's profits too. You already tax their employees on their income before they even get it into their hands, then when they spend that income no matter what on, they're taxed again. Then when the company makes any transactions on behalf of their running costs to produce whatever product/service they sell they're taxed again. Then when that product/service is actually sold to the end customer, tax takes up a chunk of the fee again. Then their shareholders are taxed whenever they make a share related transaction.
Taken all together, that's a lot of tax, a significant chunk of the companies turnover. Why does one have to tax their profits aswell? We'd do well to attract multinationals here rather than scare them away. Let's be honest - they were never here for any other reason than the corporate tax scheme, and not the 12.5% rate but rather the ways to circumvent it ie. the infamous "Double Irish with a Dutch Sandwich".