Corporate Income Taxes Cost the Average American Household $3,190 (Video on Source Page)

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“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.226327-600-0-52

LINKS:

(1) “This party atmosphere sends the wrong message”

(2) President Obama’s cap and trade proposal for reducing greenhouse gases is a tax pure and simple.

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4 comments on “Corporate Income Taxes Cost the Average American Household $3,190 (Video on Source Page)

  1. Excellent! This huge misapprehension, that corporations can be taxed instead of people, is what has permitted the Dems to write much idiot tax policy over the years. Every stakeholder in a corporation is affected by these taxes. Shareholders (that’s your 401(k) or your pension fund) are hurt by lower dividends. Customers are hurt by higher prices. Employees are hurt by lower wages and salaries. Suppliers are hurt by the corporation’s reduced demand for inputs. A corporation is just a special arrangement of people for a special purpose, and it is the people who pay the taxes. Good catch.

  2. And, while I’m at it, there’s no such thing as “windfall profits.”

    Also, Obama is an idiot, along with being a skunk.

  3. Yes, let’s eliminate ALL taxes, since taxes are evil. And all of our economic problems will disappear in a heartbeat, and we’ll all be rich. Yes, let’s eliminate taxes!

    goodtimepolitics: No larrys lets have big expensive parties in the White House every Wedesday night, fly around the country in Airforce One 90 percent of our time leaving a carbon trail bigger than Al Gore and spend trillions of tax payers dollars useless like for a bridge to no where in the Everglades. While the poor that Obama promised to help will end up paying higher prices for their food that the companies pass down to them after Obama raises the Capital Gain Tax! So far Obama is doing all the above. You like that huh! Have any other good ideas?

  4. It occurs to me that, if the Obama’s cap-and-trade carbon tax has a prayer of passing, it is because a lot of people mistakenly assume that the cost will be borne by evil polluting corporations. The fact is that it will be paid by you and me. Big time. Think your electric bill is high now?

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