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2016-07-27 Home Front: Politix

Ohio Republican: Trump Should Consider Eliminating Corporate Income Tax

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Posted by Besoeker 2016-07-27 05:34|| || Front Page|| [2 views ] Top

#1 Rep. Jim Renacci is entirely correct. Corporations DO NOT pay income taxes, they pass income taxes and costs associated with gov't regulations, along to the consumer, just like all the other costs associated with business.

If the costs exceed the amount the consumer is willing to pay, the corporation seeks reductions in other costs such as labor, by moving operations overseas.

If the corporation cannot reduce costs, they go bankrupt.

When any of these things happen, the American worker, and taxpayer loses. I have never been able to figure out why this is such a difficult concept to understand.

Posted by Besoeker 2016-07-27 05:43|| 2016-07-27 05:43|| Front Page Top

#2 I have never been able to figure out why this is such a difficult concept to understand.

That's because your calculations neglected the possibilities of graft.

Posted by g(r)omgoru 2016-07-27 05:56|| 2016-07-27 05:56|| Front Page Top

#3 I have a better idea: no corporate income tax if over half of the stuff you sell is made in the US.

Posted by Thing From Snowy Mountain 2016-07-27 07:40|| 2016-07-27 07:40|| Front Page Top

#4 It's not a tax, but an insurance fund for generous bailouts and market exclusivity.

(do I need to but a /sarc on that, or is it too close to what its all about anyway? providing funds for their agents to play political (bread and) games with more money)

Posted by Procopius2k 2016-07-27 08:16|| 2016-07-27 08:16|| Front Page Top

#5 I have never been able to figure out why this is such a difficult concept to understand.

Along with the graft angle, this allows taxes to be hidden from the true tax-payer. Sales tax is at least visible but if you hide it as a cost of doing business it is much easier to continue with your theft without your plebs getting wise.

It also allows you to demagogue against greedy corporations and paint yourself a "fighter for the little people" (see also graft).

Posted by AlanC 2016-07-27 08:31|| 2016-07-27 08:31|| Front Page Top

#6 This is exactly the sort of fanciful projection that has led to the Trump nomination in the first place. Trump won't lower taxes, he'll raise them. He's a big government liberal who just came out in favor of raising the minimum wage.

Posted by Iblis 2016-07-27 10:22|| 2016-07-27 10:22|| Front Page Top

#7 Business Rates and charges for defending monopoly on the value of IP such as patents and copyrights (in the country) are the only capitalist taxes.
They would also NOT be passed on, like other taxes would be.
If you want to know why look up Ricardian Rent.

Posted by Bright Pebbles 2016-07-27 10:35|| 2016-07-27 10:35|| Front Page Top

#8 Any thoughts on the idea that income or consumption taxes pay for government operations, and business taxes pay for healthcare only?

Posted by gorb 2016-07-27 13:08|| 2016-07-27 13:08|| Front Page Top

#9 Libertarian candidate had a similar plan. Reduce every burden you can to convince corporations to resettle into the US bringing jobs.

Posted by rjschwarz 2016-07-27 14:11|| 2016-07-27 14:11|| Front Page Top

#10 Sales taxes are merely deferred income taxes.
Better to charge for titles that enable economic rents.

Posted by Bright Pebbles 2016-07-27 17:19|| 2016-07-27 17:19|| Front Page Top

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