Tuesday, August 12, 2008

None Of Them Pay Taxes!

A report from Congress says that two-thirds of U.S. corporations paid no income tax between 1998 & 2005.

I've got news for you! Corporations don't pay income tax! It might appear that they do but the costs always get passed on to customers, or wage cuts for employees or reduced dividends for investors, etc. It always gets passed on.

When we, as individuals pay income tax, that's it; we're the end of the line. We have to reduce our budgets to compensate for it.

I suppose I'm wrong technically, we pass on the cost of our taxes to those who would otherwise receive our money in exchange for goods and services.

Taxes are mostly just a black hole. But, as the saying goes, "Thank God we don't get all the government we pay for."