Who pays the Corporations Taxes?
I know this has been hashed and rehashed ad nausium, but since the “Super Duper Congress” is mandated with coming up with deficit reduction plans, you know Corporate Tax Rates will be discussed. So it might be a good idea to know who pays the corporate taxes.
Shout “ME” at your computer screen…
All Corporate taxes are paid by the consumer through higher product costs or through decreases in wages. So dear reader, since the current BLS reported rate of inflation is 3.6% (doubled since January 2011) and is looking to press higher, the cost of your consumer products is increasing. Add to this any increase in corporate tax rate increases and the poor will have an even harder time buying milk and produce, let alone gas and other niceties like toilet paper.