Obama - good for Americans

[Cannon Shell]

Originally Posted by Danzig

http://www.usnews.com/blogs/capital-...ate-taxes.html

interesting stuff...

It's bipartisan. Among people who have called either for a reduction in or elimination of corporate taxes are John McCain, Charlie Rangel, Jimmy Carter, Ronald Reagan, Milton Friedman, Lester Thurow.


Some 70 percent of the corporate tax burden is borne by workers in the form of lower wages and fewer high-paying jobs

An EU study of 50,000 companies found that a 1 percent increase in marginal corporate income tax rates leads to a 0.92 percent decrease in real wages.



It's a hidden tax: Even workers get hit by it, but they don't know it because they don't directly pay the tax.

For every dollar the government collects in revenue, the corporate tax may actually cost the government $1 in revenue through slower economic growth

But some (Dala) will argue that these greedy corporations deserve to pay more because they havent passed enough down to the workers. That type of logic baffles me. Like it or not most companies dont exist to provide for workers, they are created and run to make money for the owners and or shareholders. The residual effect of creating jobs is just that. Higher taxes never helps an economy.