if a company have not taken any profits out then it should not need to pay income tax on it. Companies do these to expand their business and investment and it is ultimately good for the society. Business provide job opportunities for ordinary people like you and me and that's why tax codes encorage business to expand. There is nothing wrong at all.
many people here are landlords. imagine your investment properties appreciated in value over the years. Do you think you should be paying taxes on it before you actually sell it and have money in your pocket? or homeowners in CA who may have seen their house value doubled or tripled over the last decades, do they want to pay taxes on those gains when they still live in the houses?
It is ridiculous to suggest that ppl should pay taxes on their net worth. How many times are ppl supposed to be taxed on their wealth? currently ppl pay income tax when they receive the income and possibly pay estate tax when they die and pass it on to their heirs. Is that not enough?
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