I generally stay out of tax debates. I don’t know the economic theories, and valid comparisons are difficult to make.
comparison by Rodney Hide (via Kiwiblog) bothered me, however:
A business generates $100 a year. The going discount rate is 10 percent. The value of the business is $1,000. That’s if there’s no tax. Introduce a tax of, say, 30 percent, and the business now yields only $70 a year. The business is worth only $700. The tax liability is capitalised into the value of the business. Continue reading →
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