Related: Robert Reich posted earlier today that Tesla paid ZERO taxes on $5 billion in sales (earnings?), so that’s just fucking great.
Related: Robert Reich posted earlier today that Tesla paid ZERO taxes on $5 billion in sales (earnings?), so that’s just fucking great.
Y’all know earnings on corporations are taxed twice, right? Sole proprietorships - taxed once, partnerships - taxed once.
I mean, I’m all for it, fuck corps, they are a funnel for profits at the expense of everything else in society, but let’s put the hate where deserved, like the fact that the government treats them as a fucking (morally bankrupt) limited liability person, rather than just pointing out some voodoo economics financial accounting trick that probably won’t ever change so long as the rules allow them to exist.
No they’re not. Most file as Pass Through Entities.
https://taxpolicycenter.org/briefing-book/corporate-income-double-taxed
Oh look, your source backs me up. The majority of corporations file as pass throughs. And that trend has only increased since 2015 when that graph ends .
Read a little more than just looking at a picture. Passthroughs are not corporations…which is what we were talking about.
And just in case you are going to try to attempt a “gotcha” at me about s-corps, 75% of corporations are c-corps…by far the one most people are familiar with (and angry about).
They should be taxed twice, and we could surely say they are, but being taxed and actually paying taxes are two very different things in the U.S. tax setup.
Then tax them four times.