In this post from The Atlantic we have the discussion of rich folks vs middle class vs whomever paying taxes, and throw in corporations.
Call me old fashioned, but I don't really see corporations actually paying taxes. It is like the assertion of "Free Shipping". Shipping isn't free. It is rolled into the cost of the item. Corporate taxes are rolled into the cost of the item, and if the Corporation only makes capital goods, such as metal presses and industrial sized lathes, then the cost of that Corporation's taxes are rolled into the cost of the capital goods they sell to manufacturers, who roll that cost into the cost of the goods they sell to the consumers.
At the end of the day we are the ones who pay all the taxes. We just allow our lawmakers to hide some of them from us, so we won't feel the burden as much.
Now take your average millionaire, who made his or her millions in the stock market or financial services or running some company. At some point, for them, their salary is about what they get to take home. The price of some consumer products go up by a mil, or less, to help pay that salary, which has to be sufficiently high that the net after taxes is good. We don't see this until enough of these small increases adds up to a penny, or maybe a nickel. But, at the end of the day, we pay for it.
And taxes drive human actions. I know Mary Quant claims she invented the mini-skirt, but the fact is British tax policy was a factor, in that the British did not tax children's clothing and children's skirts were defined by length and that length defined the miniskirt of the 1960s. A good design for skinny young women in London, who really invented the design.
Regards — Cliff
1 year ago