So despite all the loopholes, corporate tax payments climbed between the years 1996 and 2000, and then over the next three years (whose watch is that?) they sank to their lowest point since the year Clinton took office.
Thanks for the link!
I'd imagine all of the tax dodgers that started in 1996 to 2000 are going to keep at it as long as they can get away with it. It could take 3 or 4 administrations to catch up with them. Of course, those administrations are going to get blamed for the policies of previous administrations as being the cause, except for the Clinton administration of '96 to '00 because the previous administration was itself.
The bottom line is very simple: corporations don't pay taxes. PEOPLE do. Either we pay them directly, or it is included in the cost of the items we buy from the said corporations. Makes no difference whether it is under a Republican or Democratic administration; those of us who buy the products are going to pay.
Quite frankly, it is nothing but a shell game to pretend otherwise. And to me, it is foolish in the extreme to say that 'corporations' should be taxed more heavily. Any so-called tax they pay is going to be added into the cost of the goods, plus an additional amount to cover their administrative costs related to tax reporting. It costs us less - and is FAR more honest - to pay the tax directly ourselves. But then, it is more obvious how much we are actually paying in taxes so government as a whole would prefer another method...... keep the peons in the dark, you know
Rant over for now.
The one thing that corporation income taxes, as well as inventory taxes (some states use to have, not sure now) does is bring money from people living outside the state and even the country into the state treasury.
Of course, the reverse is true also, that we pay money into states we don't live in every time we buy a product made by a company with it's reporting base in another state.
But you're probably right, it would be too revealing of what we really pay to make it all an individual tax.
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....the fault/cracks lay at the feet of the various
Congresses (over many years) and the IRS.
And we all know about recruiting auditors,....
As each candidate provides answers to questions, they
are excused with the idea that we'll get back to them.
The last candidate of the day, when asked what the
bottom line should look like, gets up; locks the door;
closes the blinds; removes his jacket; rolls up his
sleeves; looks you in the eye and asks...what do you
want it to look like... Guess who got the job !
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