I used to work for a shipping company ( as in huge friggin' tankers) we paid a specific tax that was _on_ ( american ) shipping _companies.
So not only did we have US taxes in general, as opposed to most companies which were based in tax havens ( and flagged where ever was cheaper) but because we were based in the US AND a shipping company got more tax yet. Also since we tended to flag in countries that were not the bottom of the barrel we also had tax implications there.
It was like the government didn't want shipping companies based in the US with standards.
I'm surprised you missed one of the biggest misconceptions about business/corporate taxes. That is, they don't really pay them to begin with. Most corporations have "taxes" as an expense on their balance sheets and are figured into the cost of doing business; in effect passing the cost (along with salaries, insurance, office supplies etc.) right along to their customer. Reduce taxes and they will have more money for salaries, R&D, and can lower prices to customers to compete better...it's a win-win that only statist-leftists refuse to see.
Heh. There's something worse.
ReplyDeleteCorporate taxes on a specific sector.
I used to work for a shipping company ( as in huge friggin' tankers) we paid a specific tax that was _on_ ( american ) shipping _companies.
So not only did we have US taxes in general, as opposed to most companies which were based in tax havens ( and flagged where ever was cheaper) but because we were based in the US AND a shipping company got more tax yet. Also since we tended to flag in countries that were not the bottom of the barrel we also had tax implications there.
It was like the government didn't want shipping companies based in the US with standards.
I'm surprised you missed one of the biggest misconceptions about business/corporate taxes. That is, they don't really pay them to begin with. Most corporations have "taxes" as an expense on their balance sheets and are figured into the cost of doing business; in effect passing the cost (along with salaries, insurance, office supplies etc.) right along to their customer. Reduce taxes and they will have more money for salaries, R&D, and can lower prices to customers to compete better...it's a win-win that only statist-leftists refuse to see.
ReplyDelete