The Democrats supporting the current legislation have assured an anxious electorate that whatever funds are used to create whatever regulatory scheme created will come from the banks, not the taxpayers. Let me emphasize that so that even casual readers will catch it: the Democrats promise that you won't pay for their legislation, banks will.
Really?
Since when have corporations ever paid taxes, fees or penalties? Employees end up paying in the form of lower salaries and benefits. Customers end up paying in the form of higher costs.
This partially deflates the GOP meme that we should lower the corporate tax rate.
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2 comments:
huh? Making corporations the tax collector for washington does no harm to business, so cuts wouldn't help them? Where do you find support for that weird twist of logic? It's a catastrophic position for businesses, even as taxpayers fork over cash, as business sales go down, they must lay off workers, reduce capital investment and rsearch and development. Consumers may pay the taxes, but corporations and employees stil suffer!
Anil,
I compared the top corporate tax rate and the CPI and didn't find a correlation.
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