The Taxation of Stockholders

Abstract

I. Point of view, basic assumption, and source of data, 15. — II. Determination of average corporation tax rate, 20. — III. Rate of individual income tax, 22; ( a ) six broad categories, 23; ( b ) size classification, 24; ( c ) representativeness of the average taxpayer, 24; ( d ) average total income of a class, 27; ( e ) rates of tax on total income, 27; ( f ) rates on corporate net income, 32. — IV. Certain policy implications, 35; ( a ) two factors causing inequity, 36; ( 6 ) exploitation of stockholders having low net incomes, 40; ( c ) complete cure of inequity, realized-income basis, 43; ( d ) the taxation of income not realized by stockholders, 47; ( e ) taxing stockholders as partners, 50; ( f ) partial cures of inequity, 53.