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what happens when the company's profit margin is less than the tax rate?

they are taxed properly, on profits where they book them. they just dont do that here, so dont get taxed much here, like say Sony or VW. what you mean is you want them taxed differently, have a special tax just for them.

i reckon some modest tax increases across the board, from next year. which they usually do anyway. would be good opportunity to remove the higher rate pension rebate, £30bn right away for minimal impact on anyone. some "war bond" like investment maybe, but somewhat counter productive if we...