Owning Up


Viikko 20


Date: April 4th, 2013
Motion: THW equalize the level of dividend taxation between different shareholders to the same level
Role: Rep. (opp.)

At this point in time, big business is being dealt a hand by the government in the form of dividend taxation. The intention is Good. The idea is to have big proprietors remain in the country in helping them to keep more of their money. Otherwise, their intention in all likelihood were to escape to the tax havens of Estonia first and different island tax havens secondly (the Cayman Islands being the proverbial example, but Jersey, Malta etc. following in its heels). Finland decreasingly offers a lucrative place to operate a business. ”Safety” and ”stability” are no longer watchwords to run a business by. Namely, volatile nations have learnt to please investors and possibly protect the formers’ interests more than those of their native citizens.

The people at the losing end (small investors) are a marginal group. Their dividends are taxed strictly, but at least they get to keep most of it, over a half. It is money they have not personally worked for. Rather, they should demand other money-friendly investment instruments from their banks and fund managers. It’s the latters’ job to come up with lucrative investing schemes. On the other hand, Finland cannot afford to lose any of its holding-company capitalists. Their importance as employers, consumers and spenders is way too important. Personally, I can say that when I got money out of a holding company I had a share in (9 %), I spent all of the money I got within a year and that money was further slapped with the VAT on most occasions or transactions. Alcohol expenditure, for instance, was significant, and that in itself is a great source of tax revenue for the govt. of this country.

Even if this recent development was a bad collective decision, it can be made right with a slew of other personal decisions. If holding companies get the warm shoulder, maybe people should form holding companies. Maybe the state itself should get a lot of its revenue from holding companies, including Finnair, Senate Properties or some other state-owned corporation. If direct taxation sucks, why wouldn’t we all use indirect taxation then instead; at least, those who can?

Any tax reform may feel good, if one is at the receiving end of the said, specific tax reform. A holding company doesn’t necessarily have to be a corporate behemoth’s piggy bank. It can be Your piggy bank, and if you are a good citizen/consumer, you will then spend what you get in capital income, and that in turn will fuel and lubricate our shared, joint economy and weal.

Thank you.

Arvio: Puhe on hieman sekava, mikä johtuu siitä, että sen kirjoittamisajankohtana tapahtui jonkinlainen muutos osakkeiden ja osinkojen tuomien pääomatulojen verotuksessa. Muutos oli sellainen, että se asetti erilaiseen asemaan ne, joilla oli yhtäältä suoria osakeomistuksia ja toisaalta erilaisia rahasto-omistuksia pankkien kautta tai hallinnointiyhtiön osakkeita. Jos tätä ei tiedä, puheessa ei ole juuri järkeä. Vastustuksen pointti on siinä, että opposition edustajana haluan jonkin pääomatulon muodon, johon kohdistuu matalampi verotus, kuin että kaikki pääomatulo olisi raskaasti verotettua. Lyhyenä, vaikeasti pidennettävänä puheena tämä puhe jättää toivomisen varaa.



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