Liberals joined President Obama by refusing to consider a reduction in corporate taxes which are some of the highest in the world. A lot of people will think this is a good thing. Stick it to those corporations.
Here’s how the rejection of tax cuts is being reported:
“A group of congressional liberals being that include Sen. Bernie Sanders (I-VT) and Sen. Sherrod Brown (D-OH) teamed up with President Obama to kill tax cut deal that would have given hundreds of billions of dollars to the wealthy and corporations.”
What liberals won’t tell low information voters is that corporations don’t pay taxes — any taxes — ever. Only individuals pay taxes.
When a corporation is taxed, it counts those taxes as an expense similar to rent, insurance, utilities, R&D, transportation, advertising, and every other expense necessary to run a business. All business expenses are passed on to consumers. That means that they are passed on to you and me. When Congress calls for more taxes on Big Oil (or any company), they are actually calling for a tax on us. This is in addition to the taxes we already pay to the state where we buy gasoline or diesel, as well as the federal government.
Governments bring in more money than the oil companies make in profit without taking any risks. Governments just collect the money. Actually, the gasoline stations collect the money, which also costs them, and sends the state and federal governments a fat check paid for by you and me.
With gas prices in freefall, governments are still getting their taxes while oil companies, actually stock holders, will be seeing less in their retirement portfolios. There is no Mr. Exxon. Millions of people own Exxon stock. There is no Mr. Coca Cola. Millions of people own Coca Cola stock.
Liberals are in the business of creating class warfare to keep them in power at our expense. It’s one of the ways they can tax without a groundswell of opposition. There are fewer corporations when compared to individual voters. So by campaigning on a “tax the corporations” platform, politicians can appease and gain the support of tax payers. In the end, however, taxpayers are getting stuck with the higher taxes corporations will pay…
Continue Reading at Godfather Politics…
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