Anyone want to explain how some very profitable companies end up paying practically nothing in taxes? Seems like I hear a lot about it and yet hear also about our horribly steep taxes. Do some just have better tax preparers?
That is not true, first off. But, more importantly, assuming that hugely profitable corporations pay no income taxes whatsoever, why would that bother you so much?
These corporations provide jobs, pay wages, pay contribution taxes on YOUR Medicare and Social Security obligations, enable you to have health and other types of insurance that you otherwise would not have because you either cannot afford it or because you are too ******* irresponsible to buy it, enable you to have a retirement saving account which you otherwise would not have because you are too ******* irresponsible to save your money, and enables you to have decent local infrastructure due to the local ad valorem taxes it pays. In addition, if they keep their income tax liabilities to a minimum, then they can keep the price of their goods or services low, which will cause the market prices low, which benefits the consumer.
To me, it sounds like a *******-A good idea to reduce income tax rates on everyone, especially the big, bad, evil corporations. Besides, how much do YOU really pay in income taxes? I know how much I pay. I am self employed and pay taxes each and every month. I also pay my contribution taxes for each of my employees' Social Security and Medicare obligations every month, matching it dollar for dollar out of my pocket. Half of Americans are refunded all of their income tax payments, and a large portion of them get credits that amounts to billions and billions of dollars that comes out of the pockets of people like me who pays their taxes, all of them.
I am not going to berate you for a lack of understanding about taxes. Most people do not understand how it works. I will just say that all is not as it may seem.
Please enjoy your Sunday and remember to take time to reflect on the things that are important to you.