I don't care. The average paid was around 25%. If you can dispute that, then you have something to talk about.
"Add state corporate taxes of 9-12% in CA and the Northeast, plus local taxes"
The article talked about 25.9% in federal taxes. Those aren't federal -- God, are you ignorant.
"Add in unemployment compensation, workers comp"
More ignorance.
"7% FICA, plus 9% FICA/Medicare from employees"
Yep. I got those. And without employee withholding, you'll never get to 25.9%. Try.
"However, it does mean that your local drug dealer WILL pay some income tax every time he spends money on his bling, buys a drink in a bar, and a fancy car."
According to the article, he pays 25.9% today when he buys those items.
You are massively confused. You contradict yourself. You think state corporate taxes and unemployment compensation go to the federal government.
Educate yourself then come back. This is embarrassing.
Yep - you “don’t care”. This is you:
{sticking fingers in ears} I can’t hear you, I can’t hear you ...
Pull your head out of your butt and wipe the poo from your eyes.
Corporations have many opportunities to take deductions, of which business expenses such as unemployment comp and state and local taxes are just a few examples. Let’s see - pay higher salaries or bonuses as an expense, or pay federal taxes... Hmmm, what would a corporation do ? Most corporations pay few federal taxes because they pump up their expenses with all kinds of legal deductions that they have spent a ton of money lobbying for - which is also a business deduction, by the way.
Why do you think the AMT is becoming a problem for individuals - because it’s exposing the high tax rates of states and local jurisdictions. Same for corporations in terms of paying state and local taxes. It’s relevant.
So, to continue, if the drug dealer buys an item from a corporation that pays no federal taxes, he is still paying nothing.
Dude, look under the surface if you have an IQ above room temperature.
http://www.cbpp.org/10-16-03tax.htm