I'm not qualified to comment on most of this, but one point:
The USA introduced PAYE income tax during WWII, and by doing so was able to pretty much fund the entire war. Income tax works because it is coming out of every pay check rather than a lump sum at the end of the year (which was the situation beforehand). Unfortunately, company taxes don't work like this - many starting businesses go bankrupt when they have to pay their first tax bill. If businesses also worked on a PAYE system, they would be more able (and possibly more willing) to pay their share.
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Date: 2008-08-04 02:34 am (UTC)The USA introduced PAYE income tax during WWII, and by doing so was able to pretty much fund the entire war. Income tax works because it is coming out of every pay check rather than a lump sum at the end of the year (which was the situation beforehand). Unfortunately, company taxes don't work like this - many starting businesses go bankrupt when they have to pay their first tax bill. If businesses also worked on a PAYE system, they would be more able (and possibly more willing) to pay their share.