Another from “you can’t have it both ways” file:
You know how the capitalists are always fomenting about “double taxation?” They mean that corporations pay taxes on their net earnings and cannot deduct dividends from their taxable income. The dividends are then given to shareholders who pay taxes on them (mostly at only 15%). Because the shareholders own the corporation, they feel that the corporation paying taxes and they, the shareholders, having to pay tax on the “same” money is double taxation.
Here’s how things work. I go to work and they pay me. I pay taxes on what I earn and I can do whatever I want with the rest. If I buy something, I pay sales tax and the company I buy from pays income tax. If that company hires someone to do work, it pays payroll taxes and that person pays income taxes and then gets to do what s/he wants with the rest. See how that works? Every time someone earns or gets money, a tax is due and paid. The same money is used by everyone and tax is paid. Nobody calls this double taxation.
And you know how the right wing has decided that corporations are people? They get all the rights of actual human people (and a few extra, thanks to the Corporate Five on the Supreme Court, who should, by the way –but this is a separate rant – be impeached).
So, here’s my question: if corporations are people, why do you fuss about double taxation? We’re just treating corporations like anyone else. They make their money, they pay their taxes and they do whatever they want with the rest.
You can’t have it both ways.