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So, how much additional economic growth would we need to get to pay for eliminating the corporate income tax entirely on a present value basis?
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With higher interest rates, the discounting reduces the present value of those future income (or psychic benefit) streams.
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In both cases what really makes the entity valuable and successful is the very special way the intangibles and tangible assets come together to generate a present value of future net income.
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First, by the corporate income tax, then again by the individual income tax through the tax on dividends, then if you sell the capital investment, through the capital gains tax (which taxes the increase in the present value of the future income stream to the investment, which will be taxed again when earned), then when you die, by the death tax.
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But there are well established appraisal methods to measure the present value of future benefits through capitalized income streams.
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