[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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