[DeTomaso] NPC - Corporate taxes

Dave McManus dave at damardirect.com
Tue Nov 9 10:00:02 EST 2010


Sure the tax is paid by the consumer as well as all of the Corporate
overhead (buildings, machinery, lights, health insurance, commissions,
salaries, spots tickets and sponsorships, jets, yachts, corp resorts, etc.)
Evan the gardener is paid by the consumer. I don't regret paying corp. tax
considering the alternative.
IndyDave

-----Original Message-----
From: Dick Koch [mailto:arkoch at earthlink.net] 
Sent: Monday, November 08, 2010 5:38 PM
To: detomaso at realbig.com
Subject: [DeTomaso] NPC - Corporate taxes

I wish it was the end of the thread, and regretfully I am not doing my 
part to end it by adding this little tidbit that most folks gloss over.

Corporate or business "taxes" is a euphemism.

Corporations or businesses do not pay "taxes".

The corporate "tax" is embedded in the price charged to the ultimate 
consumer for a corporation's product or service,  Corporations are only 
acting as tax collectors for Uncle Sam to collect tax from the ultimate 
consumer of their product or service.  The final consumer is charged 
with a form of Value Added Tax (VAT) which is buried in the price of a 
product.

Not only does the consumer, you and me, pay the corporate tax embedded 
in the price of the product or service they buy, they pay any additional 
state and local taxes assessed when they buy the product or service.

Also, many folks think of corporations as some self serving organism.  
They are to the extent they produce a profit in order to pay dividends 
and grow the company so the ultimate owner of the corporation 
(stockholders and bond holders like John Q Public consumer) gets a 
return on their investment - all the while employing John Q Public 
consumer who spends their income to buy product and services from 
corporations.  Some folks knowledgeable on how our capitalistic based 
economy works call that the "circle of life".

Peace and brotherhood to all my Pantera cohorts, regardless of which 
side of the fence you are on.  One thing is for certain, this thread 
will not get a person to change which side of the fence they are on, no 
matter how wrong or misinformed they are.

Dick Koch - Atlanta


On 11/8/2010 15:51, P6746 at aol.com wrote:
> Hopefully the end of the thread.
>
> C corporation tax rates since July 1, 1987:
>
> first  50000                15%
> next  25000               25%
> next  25000                34%
> next  235000              39%  (the add'l 5% is to eliminate the exemption
> for the lower rates on the  first       75000 thus an overall maximum
rate
> of 34%)
> over  335000               34%
>
> S corporation rates are the same as individual rates.
>
> Bob Reid, CPA
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