When do-gooder politicians insist that the corporate taxation rate needs to be raised, they often overlook the fact that we have the highest corporate taxation rate of an industrialized nation on earth. The argument continues, as many then rebut “yes, but there are too many loopholes in the tax code that allow many corporations to pay nothing!” Sure, call them loopholes. In truth, they are incentives. But none of the above argumentation matters. The truth of the matter is, when a corporation has to pay taxes, those costs will be passed to consumers. It isn’t some institutional entity that pays the taxes, it is the people that comprise it and buy from it. Walter Williams explains:
If you want it in column form, here ya go!