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Basically have it so the government gets dividended out 21% of pre-tax profits, even from companies that don’t pay their shareholders a dividend.
Protect your money now! Two US banks collapsed, billions trapped. Invest in gold, a retirement hedge outside of the government's control.
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Joe, are you crazy? The US government has always proven to be really bad investors. They just invested $15 billion in Intel.
How so? Et tu, Joe? Since when does permanently destroying X automatically result in more X somewhere else?
It doesn’t. But eliminating some money held by the private sector creates some capacity for public spending
Can you chip in $10 — that's just $1 for each crucial state — to our Defend the Senate Fund and help prevent a GOP takeover? Safeguarding our narrow Senate majority is crucial to protecting essential rights and prioritizing the needs of working families over corporate interests.
It would be much, much better to give the government a small stake in every incorporated company.
What you describe would create massive compliance costs and severely distort investment and business decisions and business decisions. Sure, it would have some populist appeal if
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Key is geopolitical influence.
Taxing gives government more money to spend wisely or unwisely. It usually does latter.
a SWF fund allows USA to compete on geopolitical spending and influence as China + Mideast countries do in Africa and S.America with ports, infrastructure etc
The stuff you come up with sitting in the stands at a college football game…
Why tho? Are you suggesting that the federal government needs more money? That’s a tough argument to make no?
Protect your money now! Two US banks collapsed, billions trapped. Invest in gold, a retirement hedge outside of the government's control.
Spitballing here. But what if instead of a corporate tax, we force corporations to hand over 21% of all pre-tax profits and distribute it as a non-taxable dividend to all US citizen over the age of 18? That way citizens would benefit from the rising profits of American companies.
If corporations start handing over 21% pre-tax, prices will balloon faster than politicians' egos. Let consumers decide where their dollars go, not Uncle Sam.
How is this different from the current corporate tax on profits? (i assume all taxes are on pre-tax numbers...)
What if we set a schedule to increase, the second best tax ever (the estate tax is my favorite, you never pay it when you are alive) by a fixed percent every year until the budget is deficit is 3% of GDP(2% inflation 1% productivity).
Let's increase the stock buy back tax.
When
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Slippery slope. Next thing you know they will make me hand over up to 37% of my pre-tax earnings too. And also 20% of my pre-tax stock gains. And they might add a surcharge on the last one too.
Oh man... What's the expected Sharpe ratio on that? Seems higher than buying and holding equities.
It’s kind of interesting to think about how this could better align companies to the home nation.
It could get pretty messy for international subs
The IRS is gearing up for collections like never before. Settle your back taxes now with Tax Network USA.
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And that way we can incentivize certain preferred behaviors by giving them loopholes!
Can you chip in $10 — that's just $1 for each crucial state — to our Defend the Senate Fund and help prevent a GOP takeover? Safeguarding our narrow Senate majority is crucial to protecting essential rights and prioritizing the needs of working families over corporate interests.
Nah, that's just corporate socialism
Let companies keep their profits and incentivize innovation
I have an alternative idea, but it has a similar thought pattern to it:
Quote
Harlen Bayha 
@qriator
On the taxing of unrealized gains, the problems are numerous—even from the perspective of a left wing progressive like myself.
However, there are viable alternatives that could support entrepreneurship and also generate tax revenue to allow us to spread the economic gains x.com/qriator/status…
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what exactly that "public benefit" is.. hand the government an extra $100 billion a year and it would go down a black hole.. it's a fundamental discussion of what government should be doing
Protect your money now! Two US banks collapsed, billions trapped. Invest in gold, a retirement hedge outside of the government's control.
With you Joe- I would use corporate EBITA rather than pre-tax (reducing the loopholes) and use a graduating tax rate- attack the effective tax rate rather than stated tax rate
I am against the short circuiting of capitalism in this fashion. Investing into a corporation with the goal of profit for investors was never intended as an income source for government.
When the government balances a budget, then and only then would I consider this possible
Cause there's an international market for headquarters and industry, and you are screwing with the competitiveness of your whole economy. The only real good way to implement the great profits tax (great because you still trying to maximize profit even if it is taxed - econ101) is
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That would be better than tax on unrealized gains. The lesser of 2 evils so to speak.
We have a sovereign wealth fund. It's called the stock market. It raises everyone standard of living by participating in productivity.
Cut govt spending.
Cut corp tax to zero, cut income tax to zero and tax consumption.
The public do not benefit from the majority of taxes already being collected. Why would more collection fix that?
You are too smart for this!! The Govt turns dollars into pennies. Consistently!!
Looking through the replies, I don’t think I’ve seen a single individual with IQ above room temperature. Depressing
The corporate tax code can be rewritten in one sentence, pay 10% of revenue. No more deductions or sending profits to Ireland. What you report to shareholders you pay taxes on.
Protect your money now! Two US banks collapsed, billions trapped. Invest in gold, a retirement hedge outside of the government's control.
Wrong.
SWF invest for profit - like PE funds and actual private and public investments, not fund social programs and wars
I thought he was joking, then I read his replies to the comments. Has he been hacked or is he actually a full blown idiot?
Protect your money now! Two US banks collapsed, billions trapped. Invest in gold, a retirement hedge outside of the government's control.
Could also tax the wages they pay workers, the land they own, the dividends and interest they distribute, and the capital gains generated for investors who cash out, just to cover all the bases
Idk. Kind of coercive. If the government wants money it can earn it the honest way like everyone else.
This would need more thought. Without NOL carryforwards, companies would spend a lot of time trying to "balance" their profits and losses by taking certain expenses at certain times. And what about joint ventures and the like? They'd be discouraged due to double tax.
Maybe add that some of the return to shareholder (buyback, dividend, etc) counts against pre-tax profit to balance against the incentive to report less, allocate spending or activities to favor tax efficiency over being a competitive, growing business?
Top 20% get $1 trillion/year in tax expenditures (deductions, exemptions, preferential rates). Let's instead collect that.
Top 10% have $100 trillion net worth. A 2% wealth tax should handle deficit, and they'll still get richer.
It's a revenue problem not a spending problem.
What if, instead of forcing corporations to hand over 20% of pre-tax profits to the government, we had the government take an equity interest in corporations that could be increased at times so as to bid down risk premiums when monetary stimulus fails to generate adequate demand.
That's probably a bad idea. A sovereign wealth fund isn't a bad idea pe se, but we'd need to be running budget surpluses for quite a while. But... it might not really be necessary. Isn't it the mission of to identify and develop these strategically important stuff?
Best idea wud be for every child born in this country to be given $500 of S&P stock & to reserve 1/10th of individual’s Social Security w/holding to deposit into same account. That subacct of Soc Scty wud be available at child’s birth, a home purchase &/or retirement.
Protect your money now! Two US banks collapsed, billions trapped. Invest in gold, a retirement hedge outside of the government's control.
Taxes are levied on pre tax profits, by definition, so you aren't you just describing a tax hike?
I'm guessing you are trolling but not sure.
What if we just had guaranteed jobs, healthcare, housing, and education and ditch the Rube Goldberg policy contraption?
Honestly, just closing some of loopholes with registering in foreign jurisdictions would be huge. Those are American profits yielded from the actions (and data) of Americans participating in US society and markets. That yield should return to the taxpayer’s balance sheet.
Also a financial transaction micro-tax on all stock trades - even high speed ones could help the country significantly.
The IRS is gearing up for collections like never before. Settle your back taxes now with Tax Network USA.
alternative i thought of for a long time is that corporations over a certain threshold of pre tax revenue pay a tax based on that or the us government gets some special class of stock in the company
only if we use some of the proceeds from that to buy and sell oil futures contracts (which we should take delivery of) and could be used as a reserve in times of stress
Joe, by lowering the tax rate from 21 to 15 we will end up with more revenue. Companies will leave wherever they are and come back to the US to manufacture creating more jobs and revenue. The Laffer curve has shown this consistently. A country cannot tax itself into prosperity.
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whoa there, partner. let's just start with the platinum coin and see how that goes first
A straightforward 30% consumption tax with a $1m exemption and a separate $5m exemption on a home which you must occupy and eliminate all other income, capital, estate, gift, corporate etc taxes
Why not just drive them all to expatriation with much higher corporate tax rate then charge them tariffs to import their products... brilliant I know..how has nobody else come up with this?
Not only are you amazing at this but you attract comments from so many ppl who take you seriously . There must be some sort of award for this
Can you chip in $10 — that's just $1 for each crucial state — to our Defend the Senate Fund and help prevent a GOP takeover? Safeguarding our narrow Senate majority is crucial to protecting essential rights and prioritizing the needs of working families over corporate interests.
The tricky part has always been defining "all pre-tax profits."
Your 
My
"what if" 'nothing new
under the sun'
My
"what if" 'nothing new
under the sun'Quote
Anthony Bardaro
@AnthPB
Replying to @akramsrazor
/1
I'm curious and all ears (e.g. see next tweet), but first counters that come to mind are:
the US doesn't run a surplus
if US does sovereign wealth fund out of deficit, that's kinda what we already do?
x.com/hendry_hugh/st #swf
the US doesn't run a surplus
if US does sovereign wealth fund out of deficit, that's kinda what we already do?
x.com/hendry_hugh/st #swfShow more
