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Old 08-04-2004, 12:36 PM #1
atticus_finch
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corporate tax, can someone explain?

As i understand it, corporations are taxed twice:

the income tax, and then another corporate tax

if this is the case....its retarded. Nothing could slow commerce down like excessive taxing of the biggest empolyers.

please tell me im wrong and our country doesnt do this
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Old 08-04-2004, 02:09 PM #2
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http://www.econlib.org/library/Enc/C...eTaxation.html

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Old 08-04-2004, 07:03 PM #3
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corporations are the way to get around taxes you putyour money in a corp and spend the money befero taxes and its considered buisness expenses. its how the rich get around massive taxes.
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Old 08-04-2004, 07:42 PM #4
Mag Master 21
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I am presently reading the novel Capitalism and Freedom by arguaby one of the best economists ever (certainly the biggest in the 20th Century), and he addresses corporate taxes.. If you want to better understand economics, albeit from a fairly advanced source, I HIGHLY suggest reading the novel.. It's something that EVERYONE should read.. He addresses the problems of big government and how nearly all of the left's economic plans are retarded, while putting it eloquently, as to not hurt them for trying.. It's a fantastic read, and every leftist should take some notes..
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Old 08-05-2004, 12:22 AM #5
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Quote:
Originally posted by Mag Master 21
I am presently reading the novel Capitalism and Freedom by arguaby one of the best economists ever (certainly the biggest in the 20th Century), and he addresses corporate taxes.. If you want to better understand economics, albeit from a fairly advanced source, I HIGHLY suggest reading the novel.. It's something that EVERYONE should read.. He addresses the problems of big government and how nearly all of the left's economic plans are retarded, while putting it eloquently, as to not hurt them for trying.. It's a fantastic read, and every leftist should take some notes..
I read about 3/4s of that last year. That book is damn old but its a pretty easy read as compared to other economic books. Good ol' Milton describes his theories as liberal but not in the Bush/conservative Kerry/liberal way.
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Old 08-06-2004, 02:35 AM #6
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Re: corporate tax, can someone explain?

Quote:
Originally posted by atticus_finch
As i understand it, corporations are taxed twice:

the income tax, and then another corporate tax

if this is the case....its retarded. Nothing could slow commerce down like excessive taxing of the biggest empolyers.

please tell me im wrong and our country doesnt do this

it's true businesses get taxed on their earnings overseas when they do business in other countries then good ole Uncle Sam taxes them again on the same earnings. This is why Corporation HQ's are relocating overseas so they can avoid the double taxation on their overseas earnings.

For example if Nike has it's HQ overseas and sells a bunch of shoes in the UK than Nike is required to pay only the UK government their share of taxes. If Nike's HQ was based in the US, than Nike would have to pay the UK AND the US Government their share of taxes each on Nike's earnings from the sale of shoes in the UK.

We are the only country that does this and all it does is put our ourselves at a serious disadvantage against other countries. For those of you who think these corporations are greedy and evil for moving overseas, keep in mind the more profitable the business is than the more people they can employ and the more they can pay their workers.
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