Thursday, February 20, 2003

A question

Speaking in Georgia today, Bush said this:

I also want to make this tax code more fair. It's important that the tax code be fair. It's fair to tax corporate profits; that's fair. What's not fair, it seems to me, is that when a corporation distributes those profits to the shareholders in a form of what they call a dividend, that you tax it again. It doesn't make economic sense to keep taxing the same dollar over time. If part of a healthy economic society is one in which money is circulating in the private sector -- this causes fewer dollars to circulate -- it means less investment when you stand in between the owner of the company, the shareholder, and the distribution of once-taxed profits of that company. (Italics Nitpicker's)

My question, then, is would he support an amendment to his tax code that would exclude any company that has been avoiding taxes by using a post office box in Bermuda? He says right in his speech that it's fair to tax corporate profits and, by avoiding these taxes, their dividend payments can't be "double-taxed." Even more important, doesn't he think that these AWOL taxpayers ought to be forced to pay their "fair" share in the first place?


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