Thought for the Day
17th July 2024
As I never tire of pointing out, corporations do not pay taxes, they merely collect taxes. Taxes, to a corporation, are merely another expense, which is rolled into the price of whatever goods or services they provide. The taxes are actually paid by that corporation’s customers (which in some cases, such as national defense, the government); all corporation taxes actually do is (a) raise the price of living (can you say ‘inflation’? I’m sure you can.) and (b) make the corporation less competitive with other corporations (say, from overseas) that don’t have to pay such taxes (or perhaps even receive subsidies from their own governments).