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Old 06-18-2018, 03:32 PM
 
5,233 posts, read 2,384,691 times
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Quote:
Originally Posted by hitpausebutton2 View Post
Sure.. out of this list, what taxes do u as a business owner stick it to the consumers?

https://www.thebalancesmb.com/all-th...ust-pay-399045

more better list
https://www.usa.gov/business-taxes

It's cute that you think you're making a point. But the answer to the question is simple - all of the taxes listed in both of your links will be paid by the three groups that I mentioned previously.


See how simple this is?
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Old 06-18-2018, 03:58 PM
Status: "Career Changer" (set 7 days ago)
 
1,020 posts, read 293,745 times
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Quote:
Originally Posted by Supposn View Post
Taxes are not passed onto employees
Minimum wage employees pay social security and medicare taxes. So yes, taxes are passed on to employees.
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Old 06-18-2018, 04:03 PM
 
2,360 posts, read 1,031,855 times
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Quote:
Originally Posted by TaxPhd View Post
This has been explained so many times, it's amazing that you've missed it. However, here it is again:


The economic burden of ALL taxes is borne by three groups.


1) Owners, through reduced returns.
2) Employees, through reduced wages/salaries and benefits.
3) Customers, through higher prices.


There is no one else that is going to pay the tax.

should been more clear..


1) Owners, through reduced returns.-- So you buy less or write off more expense to lower your burden.

2) Employees, through reduced wages/salaries and benefits.-- So take it of your employee check because you dont want to dip into profit to pay for it. Thus still passed on the employee one way or another, not the profit book.


3) Customers, through higher prices.-- So add the 2 steps above and raise prices again, so theory double dipping here. because again, dont want to eat up your yearly earnings to pay taxes that you create as a business.
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Old 06-18-2018, 04:19 PM
 
5,233 posts, read 2,384,691 times
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Quote:
Originally Posted by hitpausebutton2 View Post
should been more clear..


1) Owners, through reduced returns.-- So you buy less or write off more expense to lower your burden.

2) Employees, through reduced wages/salaries and benefits.-- So take it of your employee check because you dont want to dip into profit to pay for it. Thus still passed on the employee one way or another, not the profit book.


3) Customers, through higher prices.-- So add the 2 steps above and raise prices again, so theory double dipping here. because again, dont want to eat up your yearly earnings to pay taxes that you create as a business.
Perhaps you should try again, because what follows is nearly unintelligible.
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Old 06-18-2018, 04:25 PM
 
2,360 posts, read 1,031,855 times
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Quote:
Originally Posted by TaxPhd View Post
Perhaps you should try again, because what follows is nearly unintelligible.
na no need, you responded enough that you will pass on anything that cost you money to others because you dont want to dip into your profits. Clear enough? so what are you eating in taxes that is not being passed on.
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Old 06-18-2018, 06:00 PM
 
852 posts, read 363,123 times
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Quote:
Originally Posted by hitpausebutton2 View Post
na no need, you responded enough that you will pass on anything that cost you money to others because you dont want to dip into your profits. Clear enough? so what are you eating in taxes that is not being passed on.
if the customer will pay a higher price, it will be charged. There's no need to identify a specific cost that is being passed on. If you can pay your employees less and still retain enough qualified talent and manage turnover, that's what will be done. That's business.
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Old 06-18-2018, 09:53 PM
 
4,354 posts, read 5,282,875 times
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Some people lol. Obviously if my taxes or fees as a business owner are higher, I raise my rates to customers, and my head of sales may not get a raise that was scheduled. I’m not reducing my profits whatsoever, obviously, in fact I usually have trouble squeezing much out of the market we’re in so I’m the one who bears the burden. Taxes are just another line item expense and as with anything else like that I pass on the cost or limit how much I can pay contractors or employees.
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Old 06-18-2018, 10:21 PM
 
1,037 posts, read 561,875 times
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Quote:
Originally Posted by TaxPhd View Post
Two points:
1) Approximately 2.9% of US workers earn minimum wage. That leaves a substantial portion workers who can face some of the effect of these taxes being passed on to them.

2) As a practical matter, the main effect is in the establishment of the wage up front, and the impact on possible raises later on, rather than an actual reduction in wage. For example, a low end worker might have been able to earn $7.75/hour, but due to the taxes that are passed on to workers, he only earns $7.25/hour.
TaxPhd, excerpted from the post you quoted: A substantial portion of most enterprises labor costs are covered by minimum-rate laws and cannot be reduced. Due to the concept of wage differentials, it is less feasible for enterprises to reduce their labor costs that are beyond mandated minimum rates.
Thus, enterprises can pass on extremely small portions of their expenses on to employees. ...

You didn't read, or simply do not agree with that?

The federal minimum wage rate doesn't affect all wage scales equally, but it does affect all USA wage scales. Half of a $14.50/Hr wages can't be legally reduced, and the enterprise did not altruistically choose to pay that much, but due to the concept of wage differentials, the enterprise considered themselves to be compelled to pay that level of wage in order to recruit and retain that particular quality of labor.

If enterprises shop for cheaper supplies without sufficient regard for quality, they're likely to purchase very expensive bargains that cost them more than the price reduction's worth. It's not fully the same, but there are unintended costs due to attempting to use lesser qualified or motivated labor.
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Old 06-19-2018, 02:12 AM
 
6,308 posts, read 4,775,863 times
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Quote:
Originally Posted by hitpausebutton2 View Post
should been more clear..


1) Owners, through reduced returns.-- So you buy less or write off more expense to lower your burden.

2) Employees, through reduced wages/salaries and benefits.-- So take it of your employee check because you dont want to dip into profit to pay for it. Thus still passed on the employee one way or another, not the profit book.


3) Customers, through higher prices.-- So add the 2 steps above and raise prices again, so theory double dipping here. because again, dont want to eat up your yearly earnings to pay taxes that you create as a business.
There is a fourth possibility, which is that the tax doesn't get paid. Government can price itself out of the market just like anyone else. In the low-income southern suburbs of Chicago, there are towns where the property tax on what would otherwise be a $100,000 house is $5000 a year. Since no one who lives in a $100,000 house (i.e. a very cheap house) can afford $5000 a year in property tax, the houses are empty and the tax goes unpaid. Another way of looking at this is that people entitled to receive government services are "paying" the tax, by not getting the services.
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Old 06-19-2018, 03:50 AM
 
1,937 posts, read 1,329,497 times
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Quote:
Originally Posted by Supposn View Post
Taxes are not passed onto employees:

The federal minimum wage rate is a legally mandated rate. Legally mandated rates and amounts are not subject to reduction.
Not quite. If you worked full time earning $7.25 per hour for the whole year, your taxes would be around 12% of your $15K annual income income. Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff. Payroll taxes generally fall into two categories: deductions from an employee's wages, and taxes paid by the employer based on the employee's wages.

Ask somebody working for tips and getting paid about 2.15 an hour if they pay taxes.

Depending on things, you might get most of your portion back in the refund... or you might not..... or a lot more.

The net effect is about 2500 in tax on a cost of employment of about $20 K. to an employer, for a person making minimum wage.
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