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Corporations do not print money. Therefore, they must acquire it somewhere in order to pay their tax burdens. There are only three places corporations can collect that money:<br> <br> PRICES of goods and services, which the consumers pay. Because there are more middle income and low income consumers than wealthy ones, that piece of corporate tax burden is most heavily levied against the middle and lower income consumers.<br> <br> WAGES/SALARIES of corporate employees. Corporations can reduce what they pay in both wages and benefits to their employees to help pay their corporate taxes. Again, because there are more middle and lower income wage & salary earners, they bear the brunt of that portion of corporate taxes. Jobs can also be eliminated, saving the corporation 100 percent of the former employee's salary and benefits. <br> <br> SHAREHOLDERS: Corporations can also use money that would otherwise go to shareholders (investors). Anyone who has a pension plan, a 401K, or an IRA is most likely to be a shareholder. So, corporate taxes raid our retirement funds. And since it is the rich who can more easily invest additional funds elsewhere, who do you suppose bears the heaviest burden on taxes taken from shareholders? Middle and lower income wage earners. This particular source of tax income also lowers the desirability of a corporation's stock, which in turn lowers the value of that stock, which in turn also reduces the value our our retirement funds. So, it is a double whammy for middle and lower income earners. <br> <br> Additionally, more severe corporate tax burdens require corporations to spend more of their gross profits on tax compliance, because they must hire accountants and lawyers to ensure they do not inadvertently under pay their taxes. These costs, too, must be covered by a combination of the above three mentioned revenue sources. <br> <br> Bottom line is that corporations are tax collectors. They do not have the ability to create money from thin air, so they must collect it from a combination of the above mentioned three sources. In all three cases, it is NOT the upper income earners who are most heavily burdened; it is the middle and lower income earners.<br> <br> So, anyone who advocates for raising corporate taxes is really advocating for disproportionately raising the taxes of the middle and lower income earners.
By Lee
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