Fact 3: High corporate taxes punish workers.
As the new study explains, there is a growing body of evidence that a large share of corporate taxes is really borne by workers—most of whom are not wealthy. Using statistical methods, the new study found that for every $1 rise in state and local corporate tax collections, real wages in that area fell by $2.50 five years later. The reverse is also true: wages rose by $2.50 for every $1 reduction in state and local corporate income taxes.
If wages are depressed in your particular state or locality, check out the corporate tax rate – as we’ve pointed out for years, corporations don’t pay taxes, they pass them on.
Friday, November 13, 2009
McQ runs down some tax facts from by the Tax Foundation. Everyone should keep these handy and reread them periodically. An excerpt:
Posted by Freeven at -- 12:48 PM