Quote:
Originally Posted by udman
This all-too-conveniently confuses the incidence of a tax with the burden of a tax. The marginal tax rate on every additional dollar of capital gains and dividend income from corporate profits can reach as high as 44.75% at the federal level (assuming a company pays the 35% top corporate rate), not 15%.
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First off, I just want to say that the number of these fucking things---> %
in this thread, is bumming me out. If you look closely, or from far away, they sorta look like 96. 96 is the seriously fucked up version of 69.
Anyway, here's how it works; Let's say you're a nice Mormon guy with a few bucks in his pocket, and you want to open a Dildo company. You set up shop in Maryland, where anybody be a corporation, and leave a very faint paper trail. You are now Dildos Inc. Since corporations are people, you're now also twins!
Next, you open an office in the Caymans, for your new subsidiary company, Dildos International. They in turn, open Expanding Universe of Children, in Lichtenstein, who then opens Consolidated Douche-bag Industries, in Liberia.
Ok, now what? Turns out, Mormons suck at making dildos. Who knew? So, Dildos Inc., "loans" it's funds to Dildos International, the Zen Dildo Masters
(TM) These guys are good. Investors line up. They've come up with a dildo that looks just like toaster. Actually, it is a toaster, but the good folks at Dildos International, are not here to judge you.
Expanding Universe of Children gets the contract for the new Dil-doasters, and subs the work out to China.
Meanwhile, back at Consolidated Douche-bag Industries, a crack team of douchebags has created a 9,056 page quarterly report, for Dildos Inc.
Apparently, we owe them money.
JC