Tuesday, September 20, 2011
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I am hearing a lot of talk about closing loopholes and stopping tax breaks for businesses, effectively raising their taxes. The problem with these proposals is businesses do not pay taxes! Simply put, businesses collect taxes from their customers and send them to the government. The person that buys a business’ product is going to pay the tax.
When a business’ taxes are increased, the result will be an increase in the cost of their product or service, or they will go out of business, thus putting their employees out of jobs.
Politicians and bureaucrats loved to point to businesses as the bad guys that are not paying their fair share. The problem with this picture is that the gun is really pointed at the American consumer who ultimately pays all taxes.
Politicians love more tax money for them to spend, derive benefits for themselves from, and buy votes with. Is this what you really want?