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Business Title: Wall St Journal: Real US Corporate Tax Rate Falls To 12.1%, The Lowest Level Since 1972 BY DAMIAN PALETTA WASHINGTON—U.S. companies are booking higher profits than ever. But the number crunchers in Washington are puzzling over a phenomenon that has just come into view: Corporate tax receipts as a share of profits are at their lowest level in at least 40 years. Total corporate federal taxes paid fell to 12.1% of profits earned from activities within the U.S. in fiscal 2011, which ended Sept. 30, according to the Congressional Budget Office. That's the lowest level since at least 1972. And well below the 25.6% companies paid on average from 1987 to 2008. Corporate income-tax receipts typically fall during recessions, Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 10. There is no such thing as a corporate tax. Businesses don't pay taxes.
#2. To: Wood_Chopper (#1) There is no such thing as a corporate tax. Businesses don't pay taxes. If that was true then there wouldn't be all this fuss over the corporate tax rate. But I will let you in on this little secret, not all businesses are corporations.
#3. To: mininggold (#2) But I will let you in on this little secret, not all businesses are corporations. If it walks like a duck, and quacks like a duck, it's a duck, no matter what some bullshitting professional liar, er ...lawyer, says. Businesses don't pay taxes. They merely ad them to the cost of their product. They just collect them from their customers.
If that was true then there wouldn't be all this fuss over the corporate tax rate. The argument over the tax rate is to keep the rubes arguing about a phantom issue, thereby keeping them away from the real issue, mainly, THEY, not the business, are paying the taxes collected by business for the govt. I guess you could say they are a "govt tax", not a "corp tax" since the corps didn't institute them, govt did. Cracks me up when they can actually get people to DEMAND businesses pay more taxes, when it's actually coming out of the pockets of the very same people demanding it.
#7. To: Wood_Chopper (#3) (Edited) Businesses don't pay taxes. They merely ad them to the cost of their product. They just collect them from their customers. Who actually pays corporate taxes depends on the competitive nature of the market that the company is in and the demand for the labor force the business needs. Corporate taxes can come from: 1) Higher prices to consumers
#9. To: jwpegler (#7) (Edited) Corporate taxes can come from: Corporate taxes
#10. To: Wood_Chopper (#9) Corporate taxes can come from: their customers. All revenue comes from customers. Your original assertion is that raising taxes will cause businesses to simply pass the cost on to customers. That's incorrect. Higher taxes can come from a variety of places, depending on competitive nature of the market and labor pool.
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