This entire article is just one big error of omission.
Every U.S. company (doing business here) pays taxes on their payroll. No one is exempt. For a $50k/year employee, this amounts to about $4,000.
So let's try to be clear here: not paying any corporate income taxes is not the same as not paying any taxes. We shouldn't be taxing coporate income anyway; the customer just ends up paying it. It's bad enough that there is an effective 15% tax on payroll. That's disgusting.
So let's try to be clear here: not paying any corporate income taxes is not the same as not paying any taxes. We shouldn't be taxing coporate income anyway; the customer just ends up paying it. It's bad enough that there is an effective 15% tax on payroll. That's disgusting.
How true, and we end up paying for the payroll taxes and the costs involved in the compliance with both income and payroll taxes.
John Linder in the House & Saxby Chambliss Senate, offer a comprehensive bill to kill all income and payroll taxes outright, and provide a IRS free replacement in the form of a pure consumption tax:
H.R.25, S.1493
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.
With manufacturers free of taxation, our exports would gain a 20-25% advantage in foreign markets, while imports would be taxed at the retail register the same as all other products, where today they enter subsidized from other nations with credited removing their VATs.
The differential would change our trade relationships profoundly.
- "A recent survey was done, in Europe and Japan, of the major corporations and I was astounded at the results. They were asked, 'If the US abolished its income tax and went to a sales tax, would that have any impact on your decisions?' Eighty percent of the corporations said they would build their factories in the United States of America. Twenty percent said they would move their international headquarters to the United States of America."