Occupy Wall Street -- just venting

[shootingstar]

I do have a strong opinion about Wall Street in general:

It is terribly true that the corporate world is treated well by the tax man.

People who have never worked closely with tax lawyers, may be surprised to know how large corporations hire tax lawyers to formulate complicated tax planning strategies to reduce their corporate tax payment to the government...and alot of it is legitimate because that's why they hire a tax lawyer(s) and accountants, to interpet the complicated tax legalese in the Internal Revenue Code (US) or the Income Tax Act (Canada).

So I might not be out there marching, but don't believe the whining of the corporate world that they are paying "too much" tax.

part of all this problem is that when proposed changes to corporate tax law are publicly introduced, very few laypeople can fight it, because you have to have detailed knowledge of ...tax law, one of the most technical areas of law (after a building or fire code).

I was a tax law librarian ....

[PamNY]

part of all this problem is that when proposed changes to corporate tax law are publicly introduced, very few laypeople can fight it, because you have to have detailed knowledge of ...tax law, one of the most technical areas of law (after a building or fire code).I was a tax law librarian ....

That's true of much legislation affecting business -- it's hard to understand, hard to get people to pay attention, hard to communicate, and hard to compete with lobbyists (not sure if lobbying is a big factor in Canada, but in the US it is).