23 May 2011

Corporations DO NOT pay taxes!

Corporate Taxes

We have heard quite a bit lately about how big corporations avoid/do not pay taxes. The dustup over General Electric comes to mind.

As (the late) Paul Harvey said, "Corporations don't pay taxes." Neither do businesses of any size. All "tax" costs are passed along to the consumer. Taxes are part of the cost of doing business. The same can be said for all fringe benefits employees receive.

The current oil price "crisis" is a good example. As the demand (worldwide) for oil increases, prices rise. The nationwide average price (whatever that is) is currently at $3.55. Part of that price increase is an increase in taxes passed on to the consumer. Did ANY federal, state, or local government propose a tax break for consumers. To quote (also the late) John Belushi, Noooooooooooooo. They (the governments) just kept on collecting taxes.

The above fact about taxes is inescapable. Yet politicians (of both parties) and (most) consumers somehow think that corporations and businesses just dip into a big bag of money to pay taxes. When will politicians and consumers ever learn?

But that's just my opinion.


1 comment:

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