Dishonest Tax Analysis from the New York Times | International Liberty

https://danieljmitchell.wordpress.com/2021/04/05/dishonest-tax-analysis-from-the-new-york-times/

There are two big policy debates about business profits. The first is whether profits are good or evil. I pick the former. Profits are something to applaud, assuming they are earned honestly (i.e., not the result of subsidiesindustrial policyprotectionism, or other forms of cronyism). The second is how profits should be taxed, and that’s the focus of today’s column. My perfect-world answer is that there should be no tax on profits because we have a government that is so small that there’s no need for any type of income tax. But I’m in the United States rather than a fiscal paradise such as BermudaMonaco, or the Cayman Islands. So if we start with the assumption that a corporate income tax is going to exist, how should it operate? To answer that question, let’s start with this simple example of a kid’s lemonade stand…