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View Diary: Analysis: Dow 30 companies show what a joke calling corporate tax burden 'heavy' has become (70 comments)

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  •  Public corporations and private corporations (5+ / 0-)

    are all artificial bodies whose members have common interest in shielding individuals from personal risk or culpability. In theory, being protected from the consequences of mistakes is supposed to make individuals more innovative and inclined to take risk. In practice, it seems to make some reckless in managing/disposing of other people's assets.

    Regardless, our primary public corporation issues currency on whose use all other subsidiary entities rely. This makes the federal Treasury unique. And, again in theory, since the federal Treasury issues currency, it has no need to collect it from the public. However, currency, to function as it ought, has to be moving (in the current) and, to facilitate that, the Treasury makes the money come back (re-venu) by levying and collecting taxes. In other words, taxes are an aid to recycling the currency.
    When Congress sequesters and Wall Street hoards, the function of currency is undermined. Instead of flowing freely, the dollars are slowed to a trickle, as this graph from the St. Louis Fed demontrates:

    We organize governments to deliver services and prevent abuse.

    by hannah on Wed Mar 27, 2013 at 05:18:37 PM PDT

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