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Wednesday, August 03, 2005

Cui bono?

Who really benefits from taxing business/corporation income?

[N.B. a commenter reminded me that I'd not made note of the previous post in this mini-series. Last Wednesday, I posted Wednesday's Child is Full of Woe... featuring the Fair Tax proposal. Check it out for context.]

Think about it for more than one second. With more than one brain cell firing, anyone can see very quickly that there's not a business or corporation in America that pays one dime of tax on the business' income, even though the IRS sure does collect quite a bit of $$ in "business taxes."

The simple reason, of course, is that any business that doesn't include as a part of its business plan the expenses of paying extortion to the gummint "income" taxes will not make a profit—or at least not enough of one to stay in business.

So, businesses include those taxes as expenses figured into the cost of their goods or services and pass them on... to whomever buys their goods or services.

That includes other businesses that purchase their goods and services all the way down the supply chain to you and me.

Who pays business taxes?

You and I do.

Add it to your tax bill. But, oh, wait! We can't tell how much that is because it's hidden from us.

So, who really benefits from business taxes? Disingenuous politicians who know that if their constituents knew how much they really paid in taxes, they'd be tarred, feathered and run outa town on a rail...

But wait! There's more! (Next week.)