Among the primary arguments put forth for minimizing or doing away with corporate and/or capital gains taxes is the concept of double taxation. “That money is taxed twice,” proponents say. “Once at the corporate level, then again at the personal or capital gains level.”
We all know the word that describes this: bullshit.
First, money cannot be taxed. Money is inanimate and abstract. It has no inherent value aside from what we agree it’s worth. (This includes gold, by the way, so let’s not start that bogus Gold Standard argument unless we want to include the world is flat, the sun revolves around the earth, and dinosaurs co-existed with people. Oh, wait…maybe I shouldn’t include that last one.)
People are taxed. Therefore, since the Supreme Court and Mitt “The Twenty Percent Solution” Romney have declared corporations to be people, corporations should pay taxes. If they are to have all the rights of people, let them shoulder the same responsibilities. For now, whenever a conservative complains about how many people don’t pay any income tax at all, it should be understood they include General Electric in their condemnation.