Mark Cuban is a billionaire and a very smart guy, but his opinion that reducing corporate taxes does not create jobs is off the mark: Companies hire because they need people to compete and keep customers happy, not because of lower tax rates … . Bottom line is that while CEOs of public companies and financial engineers [...]
Tags: Corporate Tax · The Economy
The Tax Policy Blog published the following chart showing why some U.S. corporations are relocating their operations overseas: The anti-business, class-warrior left will continue to claim that greedy corporations are not paying their fair share no matter how many charts like this one are proffered as evidence to the contrary. Facts are counter-revolutionary. Related Posts: Pro-Tax True [...]
Tags: Corporate Tax · Politics of Taxes
Courtesy of Paul Caron in Johnston: Your Tax Dollars At Work, Unconstitutionally: Reuters, A Gift, From NY to Abu Dhabi, by David Cay Johnston: How does being taxed to give money to the oil-rich kingdom of Abu Dhabi and its hereditary ruler strike you? The cost, if you live in New York State, comes to about [...]
Tags: Corporate Tax · Politics of Taxes · Tax Policy
Corporations are people, and according to William McBride of the Tax Foundation, those people receive less money from the entities they invest in than the federal government does. This means that the federal government and not Wall Street is the biggest benefactor of so-called corporate “greed.” Here’s McBride’s story (emphasis is mine): While the corporate income tax code – like [...]
Tags: Corporate Tax · News
John Hinderaker of Power Line writes what I wish I wrote about the inconsistency between the left’s objection to corporation’s being treated as people and their repeated accusation that corporations experience the human emotion of greed: Lately, we have heard a lot from the Wall Street occupiers as well as more mainstream Democrats about “greedy corporations.” But wait! This is sheer anthropomorphism: if [...]
Tags: C Corporations · Corporate Tax · Politics of Taxes
Republican Mitt Romney recently caught flak for his statement that corporations are people. He was right, of course, and we told you why. Now, here comes Tim Worstall of adamsmith.org with more: One of the more annoying things we hear from the left side of the political aisle is that “companies must pay more tax”. [...]
Tags: Corporate Tax · Politics of Taxes
Jack Townsend has an excellent post today (all of his posts are excellent) about C corporation constructive dividends. In United States v. Ellefsen, ___ F.3d ___, 2011 U.S. App. LEXIS 18684 (8th Cir. 2011), the appeals court addressed the issue of whether the IRS properly reclassified payments made by a C corporation to a trust, [...]
Tags: C Corporations · Corporate Tax · Deductible Expenses · IRS Audits
