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The spirit of the law is that corporations only pay taxes on profits. The "fair share" crowd don't seem to ever consider that a corporate tax isn't a given. Th
by parineum 2y ago
The spirit of the law is that corporations only pay taxes on profits.
The "fair share" crowd don't seem to ever consider that a corporate tax isn't a given. The money that passes through corporations gets taxed through many means. The economic activity they create creates tax revenue that would otherwise not be there, even without showing a profit.
Because of that, there's a very reasonable, non-corporatist argument that they could just not pay taxes at all and it would generate just as much tax revenue. It's not a given that they should.
- AStonesThrow 2y agoYeah -- if the government pays for individuals' food, housing, and health care, then that money also stimulates the economy and gives people a good base to stay out of trouble, get a job, raise their family, or whatever. Likewise, if you invite a company to set up in a given town or region, then they're creating jobs, they're purchasing assets, goods and services, and their employees are eating lunch and shopping nearby, they're moving into town, and paying their income tax where they're at. It was interesting for me to watch Downton Abbey and learn how a manor house operated, you know, like a corporation. It wasn't such rich snobs just living on a huge piece of land, they were really stewards of a huge workforce, and the farmers and animal husbrandry that went on were sources of income for the whole common good there. Even McMansion owners need to command a cadre of service workers, handymen, repair pros, to keep the house running when they own it. Not everyone hangs out at the hardware store every weekend.