Corporations should be taxed on gross sales instead of net profits.
That will help the most efficient corporations prosper and grow, and punish the inefficient and corrupt corporations.
That would be unfair because different industries have different turnover rates. Grocery stores, for example, turn over their entire stock once a week.
I haven't thought this all the way through, but at first glance this is idiotic. If I were a CEO and my company was taxed this way, the first thing I'd do is lay off every employee and hire only contractors to work for me.
We have a gross receipts on businesses here in L.A. It is very unpopular and has caused many businesses to leave the city. A company could actually be losing money and still have to pay a gross receipts tax. Pure insanity.
If you sell 10 million dollars worth of stuff and for whatever reason have no net profit.....what are you going to pay your taxes with?????.....not a logical idea at all.
Dumb idea. Do you think startup companies are profitable from day one? You would tax their sales as they lost money?
I don’t think so.
“That will help the most efficient corporations prosper and grow, and punish the inefficient and corrupt corporations.”
Or just bankrupt everyone in businesses with tight margins.
“Corporations should be taxed on gross sales instead of net profits. That will help the most efficient corporations prosper and grow, and punish the inefficient and corrupt corporations.”
Have you ever owned and run a business?
If so, I’m betting it failed.