RSSComposition of 2007 Federal Taxes
Taxation is a topic of never-ending debate in the United States. How the tax burden should be distributed goes to the core of domestic policy. The subject is explored in greater depth in the Taxation section of this web site.
6 Responses to “Composition of 2007 Federal Taxes”
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June 18th, 2008 at 11:46 am
Why do individuals shoulder the tax burden when corporations make MUCH MORE MONEY? Domestic policy seems to be a matter of get as much as you can from the people and leave the corporations alone.
June 18th, 2008 at 10:36 pm
Who exactly do you think owns corporations? I’ll give you a hint it’s not doctor evil sitting in his underground lair scheming about how he can screw American taxpayers.
If you have a life insurance or auto insurance policy then you indirectly own shares in corporations’; if you have a union pension then you indirectly own shares in corporations’; if you have a IRA or 401k then you directly own shares in corporations; if you’re going to school then part of your tuition goes into your universities investment fund.
If the government raises corporate tax rates then you’ll just pay for it indirectly via higher prices for insurance, schooling, or goods and services made by corporations; as well as having less money in your 401K when it comes time to retire. Not to mention all of the jobs that either will be lost or won’t be created in the first place in order to cut costs, and maintain profitability in order to ‘pay’ for a greater corporate tax burden.
June 18th, 2008 at 10:57 pm
Eighteyes:
Corporations are just a piece of paper. Pieces of paper can’t pay taxes, therefore corporations pass their taxes onto people. Corporations can pass the taxes onto one of these groups of people: Shareholders, employees, suppliers, or customers. Usually higher taxes are passed to customers in the form of higher prices. Our corporate tax rate is already the second highest (second only to Japan) of industrialized counties.
June 18th, 2008 at 11:24 pm
Eighteyes:
Corporations are just a piece of paper. Pieces of paper can’t pay taxes, therefore corporations pass their taxes onto people. Corporations can pass the taxes onto one of these groups of people: Shareholders, employees, suppliers, or customers. Usually higher taxes are passed to customers in the form of higher prices. Our corporate tax rate is already the second highest (second only to Japan) of industrialized counties. Therefore keeping our corporate tax rates high is making the products of our corporations less competitive than that of other industrialized nations.
September 26th, 2008 at 12:29 pm
We need to put salary caps on CEO’s and high paid Corporate leaders. I know every says we don’t need more laws…But the scale has tipped heavily to the high paid excecutives in the last 20-40 years. If companies are going to send jobs and outsource to other countries then they should not be allowed to do business here in the USA. Make them sign contracts or lose the ability to pay these greedy high paid excecutives the high salaries. Also we must stop their abilty they have to simply pass their costs down to the low income sector of out country and be accountable to their own costs like every American is. I cannot pass my problems/costs on to anyone so why should they be allowed to.
Also on a different subject I think a FREEZE should be placed on ALL energy companies profits. I am not saying they need to go into the red. Just no profits until this situtation is fixed.
I am done for now…Sorry for rambling. But we as Americans are NOT DUMB and have a right to know EXACTLY what the senators and congressman are up to. They need to publish their proposed bailout to the general public especially all the great minds we have in the economics community so WE THE PEOPLE can make a fair decision on how to proceed.
HAVE A GREAT DAY FELLOW AMERICANS!
September 28th, 2008 at 3:09 pm
There is no doubt that companies pass their taxes on to the consumer. But when their profits double do they A.cut prices B.raise the wages of workers C. Pay top executives more money.
ding! ding! ding!
it is partially our fault. the phrase Buy American has changed to buy cheaper. but buying cheaper has cost us more than we thought. for example , alot of the money that walmart gets does not go to the us economy but to foriegn markets, but dont be upset because they laon it back to us (:
as long as these corparations throw politician a bone they can turn the other cheek. thats what i like about Ross Perot he used alot of his own money so he could say it how he saw it. obama also does not take money from PACS, compare contributer to mccain. Most of his major individual contributers were Ceos of Companies. this will be who they own when they get into office.
McCain
http://www.newsmeat.com/campaign_contributions_to_politicians/donor_list.php?candidate_id=P80002801
Obama
http://www.newsmeat.com/campaign_contributions_to_politicians/donor_list.php?candidate_id=P80003338