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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (686289)11/30/2012 5:19:35 PM
From: i-node  Read Replies (1) of 1583424
 
>>
That is because the double taxation thing is nonsense. Say I run a small business. I sell goods and services, some of which may be subject to sales taxes. However, pretty much every dollar that comes in has been subject to income tax. Should I have to pay income tax also?

You're conveniently ignoring the fact that these are two different taxes levied by two different jurisdictions on two entirely different, unrelated tax bases; much as property taxes versus income taxes.

>> Another is that a fair number of those corporations paying dividends don't pay income taxes themselves because of various writeoffs.

This, of course, is not correct. A C Corporation paying dividends with money that hasn't been taxed is returning capital -- effectively, a forced sale of the shareholder's stock. While paying dividends from paid-in capital is never allowed, paying taxes from untaxed retained earnings is not a dividend, for federal tax purposes.
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