“Corporations do pay taxes on their profits.”
And when they pay taxes they have less money to invest in new projects, new equipment and JOBs.
Sorry, that's not the way it works.
Taxes are already figured into the cost of doing business
Example A: Corp pay no taxes (example does not exist in real life unless Congress gives them a tax break)
Gross Sales: $1.00
Cost of Goods:$.60
Gross profit:$.40
Operating Expenses: $.30
Income Before Interest Expenses (EBIT):$.10
Income tax expense: $.00
Net Income$.10
Example B: Corp pays taxes (Reality)
Gross Sales: $1.10 (higher prices)
Cost of Goods:$.60
Gross profit:$.50
Operating Expenses: $.30
Income Before Interest Expenses (EBIT):$.20
Income tax expense: $.10
Net Income$.10
The cost of paying taxes are paid by the consumer. Companies make the same income