LA Times: Government Should Own 25% of Every Company

No idea about how to run the government coming out of California should shock anyone. In an Op-ed the paper published, the author argued that businesses use the tax code to keep more of their money, so that’s unfair. Here’s what his totalirarian position masked as “tax reform” is:

Instead of traditional taxes, the government could require corporations to turn over a portion of their stock, say 25%, in the form of non-voting shares. The government would benefit from any dividends or share buybacks but would have no voice in running the company.

This system would eliminate almost all opportunities for gaming since a company would not be able to deny the government its share of profits unless it also withheld profits from its other shareholders. And we would not call that “tax avoidance” but outright theft – the sort of thing that gets people sent to jail.

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