SEARCH BLOG: TAXES
Just a thought that has bothered me for some time: every dollar that a business pays in taxes is a dollar that does not go toward products, services, employees, or other investments that enrich society. Don't you wonder what the economic impact of eliminating most or all taxes from corporations would be?
The January 4 issue of Barron's had an editorial commentary by Thomas G. Donlan titled Taxation Without Justification that addressed the issue of corporate income taxes.
The corporate income tax penalizes business success - a peculiar thing to do at any time, but particularly when economic success has been scarce. Companies create jobs when they are successful, and the surest sign of success in the marketplace is a profit. Reducing profits reduces the ability of successful companies to expand and to hire.Well, sure but then the government would not have sufficient funding for programs to support people who don't have jobs now because companies don't have the resources to hire them. Oh, wait....
That free lunch you are eating is someone else's job.