Peter Schiff - why corporate taxes are not passed on!

Herman Cain and your average guy at Denny's have a view of corporate taxes that is wrong. Corporate tax rates do not affect price levels. A new corporate tax is like a new silent partner. If you sell T-shirts and get a partner, you don't double your prices to make up the loss in your share of the net profits. A shirt that has a price point of $25 cannot be changed to $50 overnight and generate twice the profits. If it could, the price would have been set at $50 to begin with.

Category:

Education

Tags:

• corporate
• tax
• myth

[CeletenteFan223]

what You all say here is true to a certain point, but so many companies are working on razor thin profits, when their taxes are raised then they absolutely have to raise their prices. For example, Restaurants & trucking companies only run on about 6% profitse becaus their Industries are very competitive. Also Peter Schiff agrees we defintly dont need to raise taxes on anyone, he explained this week on his show howe the govt already gets over 90% of corporate profits when the taxes are added up.

[CeletenteFan223]

the hobos & whinos who the country work, LOL!