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Thread: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

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    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Quote Originally Posted by Diogenes View Post
    Corporations don't pay federal income tax now, they simply collect the taxes from their customers by way of a higher price. The myth that corporations pay (or should pay) taxes is just more sleight of hand from the redistributionists.
    I don't think that I quite follow. Taxes are not an ordinary businsess expense that is passed on the customer because it has to be in order for the company to make a profit. Companies charge all the market will bear, without regard to the taxes paid on the profits. If they didn't charge all they could, their shareholders would throw them out and get someone who would. So, if the taxes go down, the company will keep more of their profits. They don't lower their prices.

    If this were a VAT, it would be different but a tax on profits is not a component of price.

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    Re: Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

    Quote Originally Posted by Hoplite View Post
    Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes - Bloomberg

    This is why I have a very hard time taking cries that corporations are over-taxed very seriously.
    google is huge and can afford to make these kinds of moves; it costs money to hide money, and tax compliance is a huge drag on the American economy. what corporate taxes do is generally hurt smaller and less-flexible businesses; as well as increasing the cost of doing business to the company in general.

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