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Less taxes = more profit.
taxes are paid AFTER the sale has been made. We're not talking about sales taxes here, we're talking about income taxes. The less tax a corporation has to pay on their income, the more they have to pay shareholders or reinvest in the company. They *could* pass those costs on to consumers, in the future, but they (and the shareholder) are better served to keep the taxes as low as possible.
Sales tax isn't "passed on" to the consumer. It is a tax the consumer pays and the company holds for the various taxing authorities. When I collect $1 from a customer, I have to pay 8 cents in tax, then I get taxed at the end of the year on my profit. THAT is the taxes corporations are fighting, not the sales tax.
It's easy to tell you're a career employee.If corporations always pass their taxes off on the consumer, then why do corporations spend so much effort lobbying to keep their taxes low? What difference does it make to them, they aren't paying it, they make you and I pay for it, so what do they care?
taxes are paid AFTER the sale has been made. We're not talking about sales taxes here, we're talking about income taxes. The less tax a corporation has to pay on their income, the more they have to pay shareholders or reinvest in the company. They *could* pass those costs on to consumers, in the future, but they (and the shareholder) are better served to keep the taxes as low as possible.
Sales tax isn't "passed on" to the consumer. It is a tax the consumer pays and the company holds for the various taxing authorities. When I collect $1 from a customer, I have to pay 8 cents in tax, then I get taxed at the end of the year on my profit. THAT is the taxes corporations are fighting, not the sales tax.
Corporations don't mind sales taxes? Really?
If corporations always pass their taxes off on the consumer, then why do corporations spend so much effort lobbying to keep their taxes low? What difference does it make to them, they aren't paying it, they make you and I pay for it, so what do they care?
They do, really.They don't. Really.
Corporations are just tax collecting bodies as far as sales taxes. The local taxing authorities tell them how much to collect in sales taxes, (lets say 8.75%) and the corporation charges it and sends it to the appropriate government entity.
The corporation does not care how much the local sales tax is. It is charged on top of the price of their product. It wouldn't be their fault if the rate was 8.75% or 200.65%. If the local authorities charge an onerous rate, the corp. would point that out to their consumers.
Small business accounts for over 80% of GDP. The more burdens placed on small business, the more fragile our economy will become. ALL businesses already pay taxes just as all individuals do. The difference is, small business taxes are even higher, and the restrictions placed on business grow more and more every day.
Obama's new COBRA regulations forced a LOT of small businesses to stop offering health coverage to their employees (mine was one of them).
As ObamaCare goes into effect, even more small businesses will stop offering it to their employees, and in fact, proof of existing coverage will become a requirement for employment with almost all small businesses.
They do, really.They don't. Really.
Corporations are just tax collecting bodies as far as sales taxes. The local taxing authorities tell them how much to collect in sales taxes, (lets say 8.75%) and the corporation charges it and sends it to the appropriate government entity.
The corporation does not care how much the local sales tax is. It is charged on top of the price of their product. It wouldn't be their fault if the rate was 8.75% or 200.65%. If the local authorities charge an onerous rate, the corp. would point that out to their consumers.
It means that they have to hire on people to keep track of and pay the taxes that they otherwise wouldn't have to (i.e. looyahs and accountants).
If corporations always pass their taxes off on the consumer, then why do corporations spend so much effort lobbying to keep their taxes low? What difference does it make to them, they aren't paying it, they make you and I pay for it, so what do they care?
Corporations are taxed on their profits. That's an income tax, essentially. Why would they be entitled to tax free income, when you and I aren't?
If sangha has proven one thing since the day she swerved into this place, it's that she likes to have strong opinions on things she knows nothing about.sangha,
You don't own a business, do you?
The law that went into effect last year requires the employer to pay 65% of the terminated employees premium, for 18 months, the employee then has the option to extend COBRA another 6 months (for a total of 24 months) but the last 6 months the employee must cover 100% of the premium. The employer is able then to deduct that amount (the 65%) from his tax return. Small business operate to break even, so a tax deduction almost never is justified by the expense up front (the 65% of the premium, each month, for up to 18 months).
And you don't read well. Small businesses won't offer coverage (because they simply won't be able to afford it), and the potential employee (the person APPLYING FOR A JOB) will have to prove that he already has coverage before he will be considered for employment.
If you had read either the new COBRA legislation, or the new healthcare bill, you would realize that what I've stated here is simply the truth. Under our new healthcare plan, employers will have the right (and eventually the requirement) to verify compliance with the healthcare regulations by obtaining proof of coverage before hiring any new employee.
To be fair, Mini, the employer can take a tax credit for the premiums paid for COBRA, not just a deduction. Huge difference, but your point is otherwise valid.
