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Name:
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Barneget
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Subject:
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34%
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Date:
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11/10/2010 9:14:49 PM
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If 34% is the magic number needed, based on consumption, what is the current source of the difference? Could it be tariffs, fees, fines or duties? Business taxes perhaps? For example, taxes paid by Wal-Mart, Exxon Mobil, Proctor and Gamble, General Electric, Southern Company, Ford, and others? Could that be why their releases, and financials state pre tax earnings/profit? Maybe some small privately held businesses are the source of the difference. In any event, business, regardless of the organization and size, are the primary source of the difference between personal income tax revenue and total federal revenue. Little secret here -- businesses, to stay in business, must provide a fair return on investment, and businesses, regardless of the size and organization type, pass through most every tax to the purchaser of their goods and/or services. Businesses also pass through expense associated with additional regulation. And, most always, the consumer is happy because someone else is taking the hit, most always FAILING to recognize their own increased out of pocket expense. Business taxes are the tried and true political 3 card monty......
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