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I misspoke by attributing the double taxation on earnings to "income taxes." You're right that the portion subject to income taxes is a cost, not profit. I mea
by morgante 11y ago
I misspoke by attributing the double taxation on earnings to "income taxes." You're right that the portion subject to income taxes is a cost, not profit.
I meant the taxation of dividends, which are doubly taxed.
- newman314 11y agoCorporate profits are left overseas and not taxed/taxed at a very low level. You see this with Apple, Google, Medtronic etc. Taxation of dividends is double taxed if you could once to the corporation and once to the individual. Avoidance of taxation of dividends (which only a subset of companies do) is not why these corporations go to such lengths to avoid paying taxes. They do it because they don't want their profits taxed. That's my beef.