Businesses continue to face excessive taxation

American Legislator ^ | 9-30-13 | Fara Klein

[ThethoughtsofGreg]

The Council on State Taxation (COST) recently released its 11th annual report on business taxation, revealing that businesses paid a total of $649 billion in state and local taxes in fiscal year 2012—an increase of 3.9 percent from fiscal year 2011. Total state business taxes increased by 5.8 percent from fiscal year 2011, while local business taxes grew by 1.7 percent. As a share of total state and local tax revenues, business taxes remained relatively unchanged from fiscal year 2011 at 45.2 percent of revenues.

As studies by COST have highlighted in the past, most would expect corporate income taxes to account for the largest tax burden on businesses. Despite this perception, corporate income taxes made up just 7.6 percent of taxes on business in fiscal year 2012. Total revenues from the corporate income tax also remained relatively flat, despite rate increases in some states, such as Connecticut and Illinois. Taxes on business property accounted for 35.3 percent, the largest portion, while general sales taxes on business inputs accounted for 21.2 percent, the second largest portion.

[I want the USA back]

Most leftists have never owned a business. In their distorted world view, businesses exploit and should be in the hands of the state, which would then manage them well. (what a joke)

[RayChuang88]

Many American Leftists have never learned the lessons of what happened in the Soviet Union under Stalin and China under Mao. The very fact maybe 100+ MILLION were killed from the policies of Stalin and Mao (I think The Black Book of Communism actually underestimated the human toll of these Communist regimes) tells me they don't understand Communism is the worst political scourge in world history.

[ThethoughtsofGreg]

You can say that again. They talk all day about “creating jobs” but have never actually done so. Ever.