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TOPIC: What's_your_delusion
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The below post by me should have started with, "this is why I believe we tax business owners twice."

Hazle Township PA
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Va:

Here is why we tax business owners twice.

Your company is taxed for the business it conducts, you the owner collect the profits. Seems somewhat straight forward? That was how it once worked, but it only worked for the top who held enough wealth to rule this nation as lords and barons.

Their time ended and to help ensure they do not rise again, the wealthy were taxed for the profits they made.

As far as I am concerned. No one out to be provided the profits of a business, rather they ought be paid a wage, even of they own the business. The mass majority of the businesses profits ought be returned to the company to grow it, you the owner ought collect the smallest wage so to encourage you to open more stores and collect small amounts from multiple stores Vrs suckling all the life out of one store and this the community by paying minimum wages to your employees.

When your employees can buy from another, the employees of that other can buy from you and this demand increases and more jobs are created.

This in and of itself is why the masses were impovished when the robber barons ruled the US. This is why when the courts gutted the monopolies, the people saw growth and prosperity. Sense the late seventies and early eighties, this model has been abandoned and we like a paracite suckling the last bit of life from a wounded or dead animal are now feasting off the dead remains of the beast that once fed us all.

Hazle Township PA
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No, I guess I have never run a business. Well, except for taking over a near bankrupt business well over 20 years ago, and being on the board of directors of others.

I have yet to have a customer write a check to the Treasury for my IRS liabilities.

Brooklyn Park MN
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Goodenuff ...clearly you never ran a business I own an LLC...My tax liability is built in to my PRE P&L projections, expenditures and pricing. I pay NO corporate taxes, my customers do, I just put their money in escrow and write a check

Rosemont IL
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"Business don't pay taxes"

When I'm done laughing at the idiocy of that, I'll make a comment.

Brooklyn Park MN
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Well, the IRS gives a business the choice to be a C Corp or S Corp. Pick the S if you don't want taxed dividends on top of taxed Corp income. And C corps have the choice to pay dividends or just retain earnings and let their stock appreciate. That's what Buffett does. Berkshire Hath has never paid a dividend in it's history. A share of its stock worth fifty bucks way back when, is now worth many thousands.

I understand the arguments against taxing dividends; they're just not real compelling to me. I'm sure Jinx will weigh in on this.

New Orleans LA
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Business don't pay taxes,,,(duhhhhhh) Their customers do..IE the middle, lower middle class and working poor Corporate taxes are side door consumer taxes Why is it the people least qualified to have an opinion are always the ones pretending they have one ?

Rosemont IL
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"Almost all elect Subchapter S; everything gets passed through to the owner almost as if no corporation even existed, from a tax standpoint. "

Exactly - that was my point. So if you owned 0.05% of a company through its stock, and your income was first taxed at a corporate rate, why should it then again be taxed at a personal rate?

What if you owned 5%? 50%? 100%? Why should it make a difference?

Windermere FL
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So.... if you bought a, say, $25,000 vehicle, and depreciated it, you ultimately took $25,000 off your top end. If that's in the fed/state combined range of ~30% or so, you saved ~$7,500 in taxes by doing this. So you basically got a car (for exclusive business use) for 30% off - $17,500 instead of $25,000.

Then when you went to sell it, you added $5k to your top end, and you were taxed on it at 30% again. $1,500 more.

So in the end the vehicle cost you $19,000, instead of $25,000. You didn't exactly make any money on the purchase and use of the car - you simply got a 24% off price on it, providing you used it for business-only. It still cost you $19,000 to own the business vehicle during the time you did.

Windermere FL
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The pathetic swooning and slobbering over the 1% continues

Rosemont IL
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TOPIC: What's your delusion

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