Dividends

[mongiovg]

If memory serves, one of the arguments the Reagan administration put forth to 
justify reducing corporate taxes in the 1980s was that corporate profits were 
taxed twice: first as income to the corporations and again when they were paid 
out as dividends. Corporations now pay a far smaller share of total Fedreal 
tax revenues than they did pre-Reagan.  I have no quarrel with the elimination 
of double-taxation. But when it is eliminated, then a part of the rationale 
offered for lower corporate tax rates twenty years ago also disappears, and 
corporate tax rates should be raised to take account of the correction of the 
double-taxation "problem".

Gary