This Thanksgiving, Be Thankful for Capitalism

[howardroark]

The TRUE story behind Thanksgiving is one of capitalism's triumph over collectivism. 

http://www.aier.org/research/briefs/819-the-real-meaning-of-thanksgiving-the-triumph-of-capitalism-over-collectivism

[240 is Back]

colin cowherd made a really good case for the need for corporations the other day.  they get all the tax breaks because they provide so many jobs.  was interesting.

[howardroark]

colin cowherd made a really good case for the need for corporations the other day.  they get all the tax breaks because they provide so many jobs.  was interesting.

A little off topic but... the way corporations are taxed in America is a little ridiculous. First, the corporation gets taxed on its profits and then the shareholder gets taxed on his capital gains! That's double taxation of income - at least one of those taxes ought to be eliminated.

[War-Horse]

Ive been a CEO of my small construction company since 1996. Accountants will set up a corp according to your situation so a different corp has different rules. There are HUGE benefits to being a corp paying much less in taxes and investing back into company use the  toys like cabins, boats, land...etc. Doesnt draw red flags like a sole proprietorship will.
While profits to shareholders are taxed as income, i believe the initial profit (because its passed on) is a tax deduction to the corp as expenses...like normal payroll.