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Aug
12
Most US companies avoid taxes
Filed Under taxes | 4 Comments
The often trotted out solution to our economic difficulties is to raise taxes on corporations. It sounds great to people who are tired of paying high prices for fuel, groceries and other items.
However, the truth is that corporations will never pay taxes since they will always pass along the expense to their customers, go out of business or move overseas to some place with a more favorable tax climate and regulatory environment such as London.
A news report shows what most people have known for a while — most corporations don’t pay US federal income tax.
Raising more taxes on corporations will never work when it is possible to structure transactions to legally avoid taxation.
Maybe a flat tax is the solution that would raise more revenue for the government, while reducing tax liability for most American taxpayers.
Of course, it will never pass muster with those in power in Washington because it is too simple and easy. That’d put too many tax professionals and attorneys out of business.
Jul
21
Chicago’s High Taxes Help Indiana Businesses
Filed Under Cook County, Cook County taxes, Northwest Indiana, taxes | 4 Comments
Shoppers from Chicago are coming to Northwest Indiana to save tax money now that Cook County’s highest in the nation sales tax took effect earlier this July.
While I usually don’t support higher taxes, if Cook County wants to increase theirs a little bit more to help out Northwest Indiana’s housing and retail businesses, I’m all in favor!
