Friday, October 22, 2010

Think Corporations Don't Pay Enough Taxes? Joke's on You.

Of course we have to pay taxes. The question is, "What kind of taxes should we impose for maximum efficacy?"

From David Walker's book, Comeback America (hardcover, page 121): "we must realize that corporations don't really pay taxes. Rather, they pass along any tax, in the form of higher prices to consumers, lower wages to workers, and/or lower returns to shareholders."

(And last time I checked, CalPERS and many middle-class Bay Area families were shareholders.)

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