Monday, March 24, 2008
Taxing business
One occasionally hears a "progressive" argue that American individual income tax rates are lower than those of many other countries, as if that justified raising our rates (it does not, insofar as one can never derive "what ought" from "what is"). Next time you encounter that reasoning, delight your interlocutor by noting that our corporate income tax rates are, basically, the highest in the world, and warrant, by the same "logic," a reduction.
CWCID: Glenn Reynolds.
8 Comments:
By 
, at
Mon Mar 24, 05:51:00 PM:
Not to mention corporations match penny for penny the employee taxes to Social Security and Medicare and are obligated to collect, account for and pay over that money to government. With every payroll American corporations pump huge amounts of money into the Treasury.
Zhombre
By , at
Mon Mar 24, 05:59:00 PM:
Corporate taxation is such bullchit. Corporations just pass said tax onto the customer, so while average Joe thinks he stickin it to the man, he's just stickin it to himself.
By , at
Mon Mar 24, 06:47:00 PM:
The effective tax rate on my business is ungodly high. My wife, a dedicated Democrat all her life and the child of Democrats, is so unhappy with the tax rates we now pay and the tax increases both Clinton and Obama placidly talk about without any disagreements being heard, that she has become a Republican. Fat lot of good it'll do her, with John "I'm an economic ignoramus" McCain as her only other choice.
Given that the cap gains rate will be the canary in the coal mine on this issue, we're actually thinking of selling out to a bigger company before the election and before that tax goes through the roof (the most persistent buyer is headquartered in Bermuda, where I'm told they pay very little tax!). It's a bad move for the company, in all probability, and will eventually cost lots of jobs, but I'm just tired of sales tax audits, franchise taxes, business "license" fees, corporate income taxes, withholding, employers match on FICA etc etc. I don't need the money, and I sure don't like the hassle. Let the government create jobs, and deal with the grief.
By , at
Mon Mar 24, 11:06:00 PM:
Well, you won't hear this progressive liberal arguing with you. American taxes are definitely whacked, and the craziness only begins with the rates themselves. 'Course I wouldn't want to say anything negative about this great country of ours and be accused of racism.
By 
Georg Felis, at
Tue Mar 25, 09:25:00 AM:
None of the three major contenders for Prez have any background in running a business, therefore will have advisors to help. McCain is the only one who will have capitalists as advisors though.
By randian, at
Tue Mar 25, 01:17:00 PM:
The problem with McCain is that he thinks capitalists are morally inferior to government bureaucrats. That doesn't bode well for private enterprise under his administration. Hilary and Obama will be worse, which is the only thing recommending him on this issue.
By , at
Wed Mar 26, 12:11:00 PM:
What makes you think so? I've never met any military officer who had anything nicer to say about government bureaucrats than, "well they didn't fuck it up too bad this time."
By randian, at
Wed Mar 26, 01:09:00 PM:
For Profit a Slur?
http://www.reason.com/blog/show/124745.html
