Posted on 08/10/2015 7:13:51 AM PDT by Jack Hydrazine
Those are taxes on individuals only, correct? How about companies and corporations?
It is obvious you not only have never owned a business but also have no idea how difficult it is to make a profit. These taxes have to be paid on profit. At the 15% rate connsider it is common for a small business to have over 1 million in sales. It is extremely rare for a business to have 15% profit. If the tax was 15% of sales then almost all business with over 1 million in revenue would be in the red after paying taxes.
yes. that’s just the individual.
corporations make up less then 11% of the tax revenue now.
(unless you realize that companies pay all taxes, as individual taxes come from the company in the form of wages)
you would prolly find this interesting:
https://www.nationalpriorities.org/budget-basics/federal-budget-101/revenues/
Your condescending remark was uncalled for as I do understand profit and how to calculate it. My degree is in business and was CFO of a medium sized business for years. The article said the proposal was to get rid of deductions, which would be OK for individuals but it would not work for business as revenue does not equal profit. It was a rhetorical question.
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