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More importantly, how do people get to keep their jobs?
You know very well how they can survive and how Americans can keep their jobs and it isn't by letting these companies get off without paying any taxes. Cap executive compensation. Period. Tax reforrm? No one would argue it isn't needed but is it likely? Probably not. Neither is any reform of the culture of the executive branch taking out all of the profits that corporations earn. I'm glad you're being torn a new one. You deserve it for starting this thread.
There's a lot of misinformation on this board about business taxes, presumably because many posters are not business owners or executives. Businesses pay a variety of taxes: federal income, state income, purchases, real property, personal property, FICA, federal unemployment, state unemployment. They pay taxes indirectly in the form of permits, fees and utilities. Both pay income taxes on profit. Officers of both pay income taxes on salary. C-corp profit is double taxed: both on the corporate profit and on the dividend to the shareholder.
The idea that corporations don't pay taxes is an urban legend. And the idea that all corporations make a huge profit is an urban legend. The reality is many self-employed individuals and couples registered as corporations struggling to earn a basic salary like everyone else. And unlike being employed, a salary is far from guaranteed for the self-employed. Let alone a corporate profit.
American busineses pay the first or second highest rate of taxes in the world.
What a great way to start off a thread....with a bold face lie! Notice how he doesn't say "effective" tax rate...only rate.
In fairness, he/she probably was not telling a baldface lie. He/she probably just read that on a political blog somewhere and assumed it was the end-all-be-all of fact regarding how corporations pay taxes. So, in his or her mind, he or she was telling the "truth" to us "uninformed" masses here at CD.
Public service, in his or her mind
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