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To: runninglips

You are completely wrong about the purpose of corporations. Corporate income is DOUBLE TAXED. First, the income is taxed as corporate income. Then, when what is left over is distributed to owners, in the form of dividends, it is taxed again as personal income.

The primary purposes of corporations are:

1) To raise large amounts of capital from a number of different investor-owners.

2) Limited liability. Investing in a corporation allows investors to risk only the amount of their investment, while protecting their other personal assets from creditors of the corporation.

The tax implications are the primary disadvantage of incorporating.

If you do not support the existence of corporations, you are nothing close to a conservative.


56 posted on 03/03/2010 5:57:36 PM PST by Above My Pay Grade
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To: Above My Pay Grade
If you do not support the existence of corporations, you are nothing close to a conservative.

WHY? because of the false reality created by the tax system? Without the PROGRESSIVE income tax, there is no reason to organize in such a way as to have Presidents, vice Presidents, treasurers etc of a corp. WHY would a Conservative support corporations, which are step children of the IRS?

61 posted on 03/04/2010 12:55:34 AM PST by runninglips (Don't support the Republican party, work to "fundamentally change" it...conservative would be nice)
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