What Do U.S. Corporations Really Pay in Taxes?
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Re: What Do U.S. Corporations Really Pay in Taxes?
Thanks Mark.
I watched the video, and it's true, we do have the highest effective corporate tax rates in the industrialized world. And it is quite true that this makes American businesses much less competitive because they must charge more for their products and services than their international competitors to compensate for those higher tax rates.
But here is where that video falls short; BUSINESSES DON'T PAY THOSE TAXES... THE CONSUMERS OF THEIR PRODUCTS AND SERVICES PAY THEM!!!
A business has no money until a consumer buys their products or services. The end consumer is the only person who cannot pass the embedded tax component of the price of a product or service on to someone else.
In other words, WE, the end consumer, pay ALL corporate taxes everytime we purchase ANYTHING.
This is the only thing missing from that video... but I felt it important to point that out.
I watched the video, and it's true, we do have the highest effective corporate tax rates in the industrialized world. And it is quite true that this makes American businesses much less competitive because they must charge more for their products and services than their international competitors to compensate for those higher tax rates.
But here is where that video falls short; BUSINESSES DON'T PAY THOSE TAXES... THE CONSUMERS OF THEIR PRODUCTS AND SERVICES PAY THEM!!!
A business has no money until a consumer buys their products or services. The end consumer is the only person who cannot pass the embedded tax component of the price of a product or service on to someone else.
In other words, WE, the end consumer, pay ALL corporate taxes everytime we purchase ANYTHING.
This is the only thing missing from that video... but I felt it important to point that out.
dblboggie
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