quote:
Personally I don't think corporations should be taxed at all. It's a form of double dipping by the government. A corporation is just a conduit for money flow between individuals. Those individuals are already taxed (unless they are poor).

Totally agree...and the large connected corps effectively don’t pay taxes due to political influence and a weaponized tax code. It’s the small companies that carry the load.

I’m a huge fair tax proponent if we could get the numbers right.

Plus..I’m not sold on the spin about how much attracting business X to the state will help the overall economy. SC has sold out to all kinds of international businesses and it’s not like we’re reaping any major windfall of revenue. It’s all political BS.

This post was edited on 5/23/18 at 11:11 pm

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Posted by deeprig9

Unincorporated Ozora, Georgia

Member since Sep 2012

64208 posts

Posted on 5/23/18 at 11:23 pm to SquatchDawg

quote:
attracting business

not the same as

quote:
sold out to all kinds of international businesses

Here's the deal. Most corporations are incorporated in Delaware because Delaware has, for decades, had the lowest corporate tax rate.

What if Georgia decided to eliminate corporate taxes altogether?

Would Georgia lose tax revenue?

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Posted by VoxDawg

Glory, Glory

Member since Sep 2012

60585 posts

Posted on 5/24/18 at 6:50 am to SquatchDawg

When it all shakes out, corporations don't pay taxes at all. They're embedded into the cost of whatever goods or service they provide, and the end user pays. In instances of B2B transactions, the embedded tax burden that they pay for their suppliers gets passed on to the individual consumer...

... Who ultimately pays for something that's been taxed multiple times... with after tax income.

This post was edited on 5/24/18 at 7:04 am

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