09-07-2012, 12:59 PM
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It's 42
Industry Role:
Join Date: Jun 2010
Location: Global
Posts: 18,083
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Quote:
Originally Posted by Robbie
He said it's a SALES tax. So yes..everything a corporation buys would be taxed at that rate. They would pay MORE in taxes than they currently do (they write off all that stuff currently...now they would be taxed on it)
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Read it again he said a "every living person in the United States" a corporation is a "legal person " there is a difference."
Quote:
Question: Will corporations get a windfall with the abolition of the corporate tax?
Answer: Corporations are legal fictions that have not, do not, and never will bear the burden of taxation. Only people pay taxes. Corporations pass on their tax burden in the form of higher prices to consumers, lower wages to workers, and/or lower returns to investors. The idea that taxing a corporation reduces taxes on, say the working poor, is a cruel hoax. A corporate tax only makes what the working poor buy more expensive, costs them jobs, lowers their lifestyle, or delays their retirement. Under the FairTax plan, money retained in the business and reinvested to create jobs, build factories, or develop new technologies, pays no tax. This is the most honest, fair, productive tax system possible. Free market competition will do the rest
http://www.fairtaxplan.org/faq_item.php?id=23
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This should make the Koch Brothers blush LMAO
What a tax loophole LOL
https://www.google.com/search?q=fair...corporation%22
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