I am personally fed up with these whiny, cry baby liberals bemoaning corporate income taxation. The corporate income tax is nothing more than a tax on virtually every American citizen. Anyone who bemoans companies such as GE for not paying their fair share lacks common sense or has employed creative gimmicks to distort the truth.
Corporations hire accountants, attorneys and consultants to find creative methods of avoiding income taxes. This expense costs billions per year, yet typically results in lower tax rate. In addition, corporations must maintain a significant workforce to keep up with, not only the recommendations from above mentioned, but to take care of daily activities that are mandated by federal government taxing authority. If there were no corporate income tax, there would be no need for outside fees and far less payout for internal staffing. The savings would be used for expansion, research, hiring, benefits, etc. So, instead of using cash to improve company, money is being spent for compliance and tax avoidance. Virtually three of every four Americans has stock ownership in a corporation. For the mentally challenged politicians, allow me to explain. If you own stock directly, that is easily conceivable. If you are in a 401K plan, or own an IRA, it is a safe bet that underlying investment is conceivably with a corporation. If you posses a mutual fund, you are likely a stockholder. A government employee? Same exact situation. The C fund of the federal TSP plan is devoted to large corporations located in the USA. State and local governments tend to seek a panel of advisers to recommend investment choices for employees pension plans. And yes, you guessed correct. Domestic corporations are virtually always included. So, the money walking out the door of the corporation leads to depressed stock value, lower dividend rate, increased company expense and lack of funding for expansion, etc. The next time you see or hear that whiny little "adult child" tell you how unfair the tax code is, or that GE paid less taxes than an average citizen, simply tell them you wish GE paid no taxes at all.The corporate income tax is nothing short of a ruse and actually results in the largest tax on average Americans -- Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more.
