“Most people think that corporate income taxes are paid by wealthy, anonymous companies,” said Scott Hodge, President of the Tax Foundation. “But as economists have been teaching for years, people bear the burden of corporate taxes, not companies.”
Economist William Randolph found that 70 percent of corporate tax burdens fall on employees through lower wages and productivity, while the remaining 30 percent fall on company shareholders. A recent Tax Foundation study shows the federal corporate income tax alone collected $370 billion in 2007. That’s an average household burden of $3,190 per year – more than the average household spends on restaurant food, gasoline or home electricity in a year Read More .
When Obama raises the Capital Gain Taxes the poor, middle class will feel the effects as well as the companies, but more than companies will because they will pass their cost on down to you in higher prices. So when Obama raises the capital gain taxes everyone pays more.