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petros

petros

The Central Scrutinizer
Nov 21, 2008
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Walter said:
Biden vows to hike corporate taxes on 'day one' of his presidency
The former vice president has vowed to raise the corporate tax rate from 21 percent to 28 percent
https://www.foxbusiness.com/politic...e-of-his-presidency-despite-unemployment-rate
So many, particularly progs, can't grasp that corporations do not pay taxes, their customers do.
Click to expand...
A one man barbershop is a Corporation. A family run restaurant is a Corporation, an organic farm is a Corporation. A coffee cart is a Corporation...

And they do pay taxes Wally.
 
Twin_Moose

Twin_Moose

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Apr 17, 2017
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Walter said:
Biden vows to hike corporate taxes on 'day one' of his presidency
The former vice president has vowed to raise the corporate tax rate from 21 percent to 28 percent
https://www.foxbusiness.com/politic...e-of-his-presidency-despite-unemployment-rate
So many, particularly progs, can't grasp that corporations do not pay taxes, their customers do.
Click to expand...

So CRA is in the wrong for collecting on my Corporate tax they should go after my client? Good to know it will save me thousands of dollars.

Anyway

But, but he said he will cut corp. taxes if they hire and sell American by 10%
 
Walter

Walter

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petros said:
A one man barbershop is a Corporation. A family run restaurant is a Corporation, an organic farm is a Corporation. A coffee cart is a Corporation...
And they do pay taxes Wally.
Click to expand...
Like I said, so many can’t grasp that corporations do not pay taxes, their customer pay the corporation’s taxes.
 
Walter

Walter

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Twin_Moose said:
So CRA is in the wrong for collecting on my Corporate tax they should go after my client? Good to know it will save me thousands of dollars.
Anyway
But, but he said he will cut corp. taxes if they hire and sell American by 10%
Click to expand...
Like I said, so many can’t grasp that corporations do not pay taxes, their customer pay the corporation’s taxes
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
116,289
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113
Low Earth Orbit
Twin_Moose said:
So CRA is in the wrong for collecting on my Corporate tax they should go after my client? Good to know it will save me thousands of dollars.
Anyway
But, but he said he will cut corp. taxes if they hire and sell American by 10%
Click to expand...
Viterra and Louis Dreyfus are paying my taxes, arent they paying yours?
 
Twin_Moose

Twin_Moose

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Walter said:
If a corporation has an expense of any kind it will pass on the expense to the customer. Econ 101.
Click to expand...

I can't, and many small corporations can't, I agree many large corps. selling products can raise their price a little to compensate for tax loss, but not all corporations can do this Walter.
 
Twin_Moose

Twin_Moose

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Yep a lot of small corps. pricing is fixed, even Dr. can't raise pricing to replace profit lost to taxes, one could argue about over prescriptions I guess. Lol
 
petros

petros

The Central Scrutinizer
Nov 21, 2008
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Twin_Moose said:
Yep a lot of small corps. pricing is fixed, even Dr. can't raise pricing to replace profit lost to taxes, one could argue about over prescriptions I guess. Lol
Click to expand...
If you are a 1 person Corp and pay yourself a draw you are taxed the personal rate. Anything left is taxed at the Corporate rate. It forces the Corp to grow or cough up taxes on what wasnt spent or reduced by CCAs.

Wally doesnt get it.
 
Walter

Walter

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Jan 28, 2007
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Twin_Moose said:
I can't, and many small corporations can't, I agree many large corps. selling products can raise their price a little to compensate for tax loss, but not all corporations can do this Walter.
Click to expand...
Yet they all do.
 
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