Sam Elliott

[PawPaw]

In a typical corporation, profits are taxed twice. Let's talk for a huge Corp, like Exxon-Mobile. When they declare a profit, they have a tax liability. Out of that profit, they declare a distribution in the form of dividend to the stockholders, so that is taxed as a stockholder liability.

(Now, we know in fact, that Exxon-Mobile has an army of lawyers that work to reduce their tax bill, and it is subject to claim if they pay any taxes at all, but that's the way it is supposed to work) Business declares a profit, and it's taxable. Stockholders get a dividend and that's taxable as well. Double taxation on the same money ain't right. It's in the tax code, but it ain't right.

I'd like to see businesses not taxed at all, and all liability flow to the stockholders.