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Reply #12: While it is theoretically possible for CEO's to reduce income [View All]

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customerserviceguy Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-28-11 06:18 PM
Response to Reply #5
12. While it is theoretically possible for CEO's to reduce income
there are already reasonable compensation laws that would 'impute' other forms of income to that CEO. As a practical matter, they are generally vastly overpaid rather than artificially underpaid, so I don't see much to gain from there. You certainly have a good point about out-of-the-box thinking, but it is good to find some progressive-friendly tax professionals to suggest the changes needed. I used to be enrolled to practice before the Internal Revenue Service back in the 1980's, but my tax knowledge is considerably out of date.

Your jobs-based tax has a precident, we had something called Targeted Jobs Tax Credits in this country, and I will give points to Reagan for instituting them. It directly rewards employing the long-term unemployable by putting a premium on them, and would be a wonderful way to counter the "don't bother applying here unless you already have a job," mentality that is out there.
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