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Steve Forbes’ Corporate Flat Tax Plan
By JLP | September 16, 2005
Beginning on page 66 of Flat Tax Revolution
- 1. All profits would be taxed at the rate of 17 percent.
- 2. Companies could expense all investments – no more depreciation schedules.
- 3. Corporate loopholes, all of them, would be abolished under the flat tax.
- 4. Interest payment deductions would also be eliminated under the flat tax.
- 5. Both limited liability companies (LLCs) and S Corps are compatible with the flat tax.
- 6. The flat tax will let companies increase dividends and benefit shareholders.
- 7. The flat tax would encourage greater transparency.
- 8. The flat tax will only tax companies on the income they make in the United States.
- 9. The flat tax would create a more receptive environment to free-market benefit plans.
Topics: Flat Tax | 2 Comments »
January 6th, 2006 at 5:56 pm
Hello,
I recommend you check out http://www.fairtax.org. If you like the flat tax, then you should love the FairTax. Essentially, it is a 23% national retail sales tax on all new items. This proposal, which is in the house and senate as HR25/S25, will also abolish the I.R.S.
There is a very good book written on the subject that you would find useful.
Best,
Jose Velez
December 19th, 2010 at 2:40 pm
Nice post, thanks. Big fan of flat tax rate policies and practices. Flat tax on corporations just is not talked about enough. Eliminates funny accounting. Revenue-Cost of Goods Sold = Profit x Tax Rate = Taxes paid.