Corporate Tax

[Ben2003]

Am I missing something?

why would anyone who is lower class, lower middle class, or middle class that are trying to improve themselves be excited about an increase in corporate tax from 21% to 28%?

Do they know who gets that additional 7%?

 

[Rambunctious]

We pay corporations taxes in the raised costs of their goods and services....I can't believe that is still so hard for some to understand....

 

[Flash]

1. We already spend too much money on the cost of government. Instead of raising taxes we should reduce spending. That would be the more moral and sane thing to do.

2. Corporations don't really pay taxes. All they do is pass on the tax to the consumers. Every cent of that damn trillion dollar a year corporations pays comes from the sale of goods and services. It is a tax on every American that buys anything provided by a corporation.

 

[MarathonMike]

1. We already spend too much money on the cost of government. Instead of raising taxes we should reduce spending. That would be the more moral and sane thing to do.

2. Corporations don't really pay taxes. All they do is pass on the tax to the consumers. Every cent of that damn trillion dollar a year corporations pays comes from the sale of goods and services. It is a tax on every American that buys anything provided by a corporation.

Bingo! It will be a 7% consumption tax that will hurt the poorest Americans the most, which is what the Democrats do with remarkable consistency.

 

[xband]

Am I missing something?

why would anyone who is lower class, lower middle class, or middle class that are trying to improve themselves be excited about an increase in corporate tax from 21% to 28%?

Do they know who gets that additional 7%?

It depends on what type of corporation, a type C corporation pays no income tax. Neither Biden nor Congress can do anything about it. The IRS is independent from government control.

 

[Flash]

1. We already spend too much money on the cost of government. Instead of raising taxes we should reduce spending. That would be the more moral and sane thing to do.

2. Corporations don't really pay taxes. All they do is pass on the tax to the consumers. Every cent of that damn trillion dollar a year corporations pays comes from the sale of goods and services. It is a tax on every American that buys anything provided by a corporation.

Bingo! It will be a 7% consumption tax that will hurt the poorest Americans the most, which is what the Democrats do with remarkable consistency.

Meanwhile that piece of shit Joe Dufus promised the stupid Moon Bats that he wouldn't raise taxes on anybody making less than $450K a year. Lying sonofabitch and these idiot Moon Bats fell for it.

 

[task0778]

why would anyone who is lower class, lower middle class, or middle class that are trying to improve themselves be excited about an increase in corporate tax from 21% to 28%?

To answer your question, democrats have always been for higher taxes on the rich and big corporations, soak the rich, right? It's a political winner, people like higher taxes if they aren't the ones paying it, and therein lies the problem. The truth is that when corporations have to pay more taxes, it isn't only the wealthy that has to pay it.

There are 3 main groups of people who have to pay those higher corporate taxes: shareholders, consumers, and employees. Economists differ on the numbers, which of the 3 pays the most is open to debate and probably varies from business to business and industry to industry. I think it's generally assumed that shareholders probably pay more than customers or employees, and most of them are probably well off. However, many of us have 401ks and IRAs that hold shares in those corporations, along with pension plans from which many not-so-rich people will get their retirement pensions.

The 2nd group is the consumers of the product or service that the big corporations offers. Big businesses will raise their prices if they can profitably do so, and so to some extent everybody pays for that tax rate hike. Or maybe they give us a little bit less product than we used to get for the same price: a 12 oz box of Cheerios instead of 15 oz for example.

The 3rd group are the employees, in many cases, the number of employees is reduced or the number of hours worked. Or the next Christmas bonus or pay raise might not be as robust. Or they cut costs in employee benefits if they can do so, or in some cases they automate jobs out of existence. Or maybe they move to another state where they can pay less state and local taxes. In some cases they even move out of the country were the cost of labor AND taxes is lower; that is really what the global minimum tax is all about, the democrats want to make it less attractive for corporations to move offshore so they can collect and spend more tax dollars.

There is a reason why places like Ireland have reduced their once high corporate tax rate down to 12%. It attracts investors and new business and that creates more jobs and economic growth. And the result of that is the gov't will get more revenue and a higher standard of living for everybody. More businesses means more competition and more innovation and more choices for consumers, and that is why raising corporate tax rates is only good for the politicians who can spend more money. Usually not nearly as much as they forecasted, cuz they tend to lie about that.

 

[Missouri_Mike]

Am I missing something?

why would anyone who is lower class, lower middle class, or middle class that are trying to improve themselves be excited about an increase in corporate tax from 21% to 28%?

Do they know who gets that additional 7%?

It depends on what type of corporation, a type C corporation pays no income tax. Neither Biden nor Congress can do anything about it. The IRS is independent from government control.

WTF?

 

[task0778]

It depends on what type of corporation, a type C corporation pays no income tax. Neither Biden nor Congress can do anything about it. The IRS is independent from government control.

This not true. Type C Corps don't pay corp taxes but they do pay personal income taxes earned from their businesses. Biden and Congress certainly can control who pays what in taxes, and the IRS is definitely not independent from gov't control. The IRS has to comply with whatever new tax laws are written or existing tax laws changed or eliminated.

 

[xband]

Am I missing something?

why would anyone who is lower class, lower middle class, or middle class that are trying to improve themselves be excited about an increase in corporate tax from 21% to 28%?

Do they know who gets that additional 7%?

It depends on what type of corporation, a type C corporation pays no income tax. Neither Biden nor Congress can do anything about it. The IRS is independent from government control.

WTF?

What didn't you understand?

 

[rightwinger]

Corporations benefit more from our Military, Infrastructure, Education, Police and Fire than average citizens do

They need to return to their former tax rate of 38 percent

 

[Thinker101]

Corporations benefit more from our Military, Infrastructure, Education, Police and Fire than average citizens do

They need to return to their former tax rate of 38 percent

With your stupid-ass attempt to defund the police you don't need any more funds.

 

[Missouri_Mike]

Am I missing something?

why would anyone who is lower class, lower middle class, or middle class that are trying to improve themselves be excited about an increase in corporate tax from 21% to 28%?

Do they know who gets that additional 7%?

It depends on what type of corporation, a type C corporation pays no income tax. Neither Biden nor Congress can do anything about it. The IRS is independent from government control.

WTF?

What didn't you understand?

The part where you claim C-corps pay no taxes. They do. How about where you declare congress and the president have no say over taxes. The IRS just gets to make that shit up?

 

[Missouri_Mike]

Corporations benefit more from our Military, Infrastructure, Education, Police and Fire than average citizens do

They need to return to their former tax rate of 38 percent

How do you figure that? Federal taxes don’t pay for all that. And why would you increase the taxes so their employees wages are stagnant and their customers pay more for the products?