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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (478358)5/6/2009 2:17:50 PM
From: Tenchusatsu  Read Replies (1) of 1573927
 
Inode, > that corporations do not pay income taxes. Their customers pay them.

Businesses do indeed pay income taxes. It's up to the business to determine how to make up for the additional expense. Saying the customers pay them kind of ignores the fact that prices are set by the market.

My concern though is the level playing field between big and small business. If I started a business, I'd sure like to enjoy the tax advantages of incorporating in the Cayman Islands, but I really doubt I'd have that luxury.

In any case, if Obama wants to eliminate this loophole with a net zero effect on the economy in general, he could also eliminate the double-taxation on dividends the correct way: by not taxing them on the corporate end and only taxing them on the investor end.

Of course, I really doubt Obama will want to do that. After all, he's got a $1.2 trillion hole to fill with "additional revenue."

Tenchusatsu
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