(12-01-2017 12:46 PM)bullet Wrote:  

(12-01-2017 12:21 PM)HeartOfDixie Wrote:  

(12-01-2017 12:13 PM)bullet Wrote:  I disagree with the author on corporate taxes. Reality is that our high rate drives businesses off-shore, reducing what we collect and sending it to Ireland or other places. The tax rate must come down to at least 25% to be competitive with the rest of the developed world.

For many of our smaller businesses, they elect sub S status and avoid the corporate double tax. But that limits their ability to raise capital. Instead our largest companies and the potential for large tax collections, get encouraged to move operations overseas.

We have a lot of preferences that should be eliminated. Our depreciation policy is way too generous now. There are numerous other preference items with limited utility for the economy as a whole. All you have to do is look at how much longer the AMT form gets every year.

The rate itself is nearly meaningless. It's how it is implemented.

I'm not sure how subchapter S elections prevent a company from raising capital.

Sub S are limited to 100 shareholders and can't have corporations, partnerships or non-resident aliens as shareholders.

You're crossing over into two different realms here.

Small businesses don't raise vast amounts of capital, they don't need to.

Those rules are designed to work in tandem with securities regulation.

So, I'm still not seeing how this is some kind of oversight that is impacting the ability of small businesses to raise capital.