Max Borders‘ latest Ideas Matter update features a video clip from Walter Williams that highlights a theme familiar to readers of Roy Cordato‘s work: corporations collect taxes but don’t pay them.
[D]o companies pay taxes?
Professor Williams says no. Corporations are but tax collectors. The idea of lowering corporate taxes would make the occupiers howl with rage. But as Professor Williams says: people pay taxes. That is, you and I do in the form of higher prices and lower returns in our 401ks.
Even if we could agree on the level of collection/revenue necessary to keep basic government services going, it would be far more efficient to collect taxes through other means. I personally like consumption (sales) taxes.
Note: United States corporations pay the 2nd highest tax rates in the world. No wonder CEOs are moving their companies overseas and sheltering their dollars offshore.
