This tax is added on to the price of the product for the consumer to ultimately pay. And yes it eliminates the corporate income tax....so like I said, people like Robert Mercer will not be paying any taxes at all.
>>This tax is added on to the price of the product for the consumer to ultimately pay. And yes it eliminates the corporate income tax....
The consumer ultimately pays the tax - agreed. But right now that dollar donut includes the 35% corporate tax. If that’s eliminated then the donut is only 65 cents plus the 16% VAT, which is still under a dollar.