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I pay income tax, then I take some of the money leftover to buy food and pay sales tax. Was I double taxed? Where is the "complete misunderstanding"? It often
by stefan_ 6y ago
I pay income tax, then I take some of the money leftover to buy food and pay sales tax. Was I double taxed? Where is the "complete misunderstanding"?
It often feels like HN threads on big company taxes revolve around the same patterns, the people that repeat ad nauseam "but if it's legal it's legal!" and the ones that bring up double taxation as if that is some sort of tax cheat code.
- chrischen 6y agoGetting rid of double taxation from corporations would essentially mean getting rid of business deductions. Which means that companies would have no extra incentives to spend their money on business expenses such hiring because they'd get taxed either ways. The corporate taxes are working fine and most companies aren't avoiding taxes so much as being incentivized to spend their profits on hiring or giving out pay raises. Think of it is coerced minimum wage increases in lieu of corporate income taxation. Double taxation on income and then on your food is just extra tax revenue, and nobody's going to stop eating because of it, though you might eat less expensive. Some places do indeed do not have taxes on basic food.