We need to change our corporate tax code or America is going down the tubes.
I have a new tax plan that fixes this income inequality problem and gdp growth problem at the same time — and some little subtle shifts in the way certain rainmakers are thinking might make my plan viable. One such clue is below.
Between the lines you see the panic of the upper class looking for ways to offset the overwhelming effect of the income inequality situation they are in, and the willingness to change some old taboos. One tenet on my plan is a gross revenue tax of 3% on all economic entities including formally non-taxable ones such as the NFL. If they’re willing to help this plan, it could pass.
From Bloomberg News — The National Football League’s central office will become a taxable entity, ending its tax-exempt status in a move with minimal financial effect and significant symbolic value.
Commissioner Roger Goodell informed team owners and members of Congress of the decision in letters dated Tuesday, saying he was eliminating a “distraction.”
“Every dollar of income generated through television rights fees, licensing agreements, sponsorships, ticket sales, and other means is earned by the 32 clubs and is taxable there,” Goodell wrote. “This will remain the case even when the league office and Management Council file returns as taxable entities, and the change in filing status will make no material difference to our business.”