The corporate income tax is basically a giant SALES TAX, stupidly discussed ...
 

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... in terms of "The Rich".



https://www.talkofthevillages.com/fo...me-tax-247819/


https://www.talkofthevillages.com/fo...x-bill-250053/

I agree:

"The corporate income tax is basically a giant SALES TAX"

EVERY PENNY a corporation pays in taxes...is included in their products cost to the consumer. WE pay their income tax for them. They're not in business to lose money.

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So, in the unlikely event that the proposed tax reduction bill passes Congress and is signed by the President, we can all expect to see a reduction in the price of all goods and services in America because of the great corporate savings. Let's not hold our breath on that one! :1rotfl:

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You make a disappointingly narrow interpretation of my thesis.

Corporate income tax is an expensive FRAUD and should be totally abolished for that reason alone.


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So should income tax...WHY is the government ENTITLED to a cut of MY labor? Are they my pimp?

No, they is your King. Pay tribute or die.


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Please read my "intro posts", then practice "The Art Of The Possible".



https://www.talkofthevillages.com/fo...ml#post1470752


https://www.talkofthevillages.com/fo...-101-a-248942/

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I'm not following links...YOU write what YOU think/want.

The government is NOT...ENTITLED...to take part of my labor. The "income" tax is the most egregious of all the taxes...you are literally a slave to the government for a percentage of your labor. What is it now? We work until almost May JUST to pay the income taxes?

"In 2016, Americans will pay $3.34 trillion in federal taxes and $1.64 trillion in state and local taxes, for a total tax bill of $4.99 trillion, or 31 percent of national income. This year, Tax Freedom Day falls on April 24th, or 114 days into the year (excluding Leap Day).Apr 6, 2016"

You were a slave to the federal government for 114 days last year... The government took 1/3 of everyone's labor.

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Not likely with a 2-3% reduction in corporate income tax, but reducing the rate to zero would have that effect.

Actually eliminating all income taxes and instituting The Fair Tax would not only have the effect of lowering retail prices by about
20% across the board but would also allow you to choose how much you want to pay in taxes and take power over you away from Congress. That is probably the main reason why it will never pass.

Pass the FAIRtax | FAIRtax

No no no...the "fair tax" is anything but.

It's a VAT tax...ask Europeans what they think of the VAT.

It will ADD to the cost of EVERYTHING affected by it.

The ANSWER is the government gets out of ALL the crap it has it's hands in. But then what do you do with all the unemployed as government is the nations largest employer.

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You make a disappointingly narrow thesis. Corporations are currently sitting on 1.9 Trillion dollars in profits and the stock market is at an all time high. Therefore, no tax cuts are required. If the corporations want to add jobs, cut costs to the consumer or build plants, they have the means to do it now.

And you are an expert? Based on all of your regular forum wonderful posts?

Go away troll.

And what is the current federal debt? $20 trillion.

Where do you think that money went? To the banks, corporations, AND keeping the markets up. Ever heard of QE? POMO?

It's ALL fake...being held up by debt.

Yes.

Why go away? Are you unable to support your thesis? Do you have an example of tax cuts for corporations resulting in cost cuts for consumers? If I’m not an expert, are you?

No I will not be lowering my prices, I will be able to bring more money home for myself and my family. Is that wrong of me?
Last year my company's gross sales was highest it had been since 2006...but my net was no where near what it was in 2006.
My material costs have consistantly gone up, shipping costs are higher and we incur fuel surcharges on all material orders, our employees cost us more today than 13 years ago, and on top of all that we have more competition today.
Why should I be punished to pay a higher rate of tax because I worked harder? Why should I pay higher tax when so many lazy POS people do not work, pay no tax, and receive "benifits" from my hard earned tax money? Why am I being punished??

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Well I can tell you my corporation is not sitting on money...there would be no benefit to that. Money deposited less expenses = income.
Corporations are taxed on income.

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Either you're not reading the original post or you're not understanding it. Taxes paid by corporations, any companies or businesses for that matter, come from the ultimate consumer. Where do you think that they get the money to pay taxes? When their wholesale and retail prices for goods and services are determined, the taxes on profit is added to the price. Corporations and business don't actually pay. all taxes are paid by the consumer.

Now would prices come down if there were no corporate tax?
Some people might say no because these greedy corporations would just keep the extra money. But that ignores one thing, competition. One of these greedy corporations would figure out that if they lowered their prices they would sell more and make more money overall. Soon, other companies, corporations, and businesses of all types would have to lower their prices to stay competitive. They wouldn't do it out of concern for their fellow man or the population in general. They would lower prices out of greed and a thirst to be number one.

Now, if you don't think this is true think about it another way. Let's say we get rid of all individual income taxes and make corporations, companies, and businesses pay at a 90% tax rate. What do you think would happen to prices? Do you think they would go up?

If you understand nothing else, understand the idea that corporations only collect money from the consumers and give it to the government. The more they have to pay in taxes, the more we'll pay for goods and services.

What makes you think that corporations want to add jobs or cut costs to the consumer? Corporations want to have as few employees as possible and have their prices as high as possible. They will only add jobs if they think they will make more money than. They will only lower prices if they think it will improve their bottom line.

Where exactly is this $1.9 trillion kept? If it is indeed profit, then they would have paid taxes on it. Why would a corporation sit on money?

The other problem with this idea of corporations are sitting on a large amount of money is that people that say it, look at corporations as one entity. It's the same as the "big oil" paradigm.
There is no "big oil". There are only several oil companies. There are perhaps hundreds of thousands of corporations, large and small, in this country. Do you think that they all get together and conspire to sit on money? I fact what they do is try to beat each other out of business.