When did you last have lunch with a business? Did you date a business while in high school? Was your first kiss from a corporation next door?
The answer to all the above questions is no and, yes, they are absurd propositions.
Have you a moment to catch up on the history of the income tax? As Yogi Berra used to say, “It’s like déjà vu all over again.“
A little over 100 years ago, the Democratic Party was on a socialistic binge to punish successful business owners, entrepreneurs who creatively developed new products and services and were rewarded by profits earned from the sale of those products and services.
“TAX THE RICH!”, they clamored and from that campaign the 16th Amendment was ratified, authorizing the personal income tax.
In a socialist society, only the oligarchy are admired for becoming wealthy, people like Nancy Pelosi, Barack Obama, Bernie Sanders, and so on.
In 1819, SCOTUS opined that corporations have standing in the Constitution. But neither the word nor the concept is to be found in our Constitution. The court assumed the role of legislator, creating law out of thin air. [Dartmouth College v. Woodward]
In 1886, SCOTUS again crafted law out of thin air, conferring citizenship to corporations. [Santa Clara County vs. Southern Pacific Railway]
Back to my premise: Corporations do NOT pay income taxes. PEOPLE pay ALL income taxes.
Income taxation of corporations is double taxation of the owners, the shareholders, of the corporation. All costs – taxation is a cost – are passed on to consumers who purchase the products or services of corporations.
If your goal in life is to get rich and not pay income taxes, get into the real estate business.
Lifstyles Unlimited | Building Wealth Through Real Estate Investing Begins With One House *Updated*
If news media companies actually cared about facts, about the truth, they would report on the earnings of politicians who become multi-millionaires while in office.
Instead of harping on Amazon not paying income taxes. Check out its owners. Does Bezos pay taxes?
Well, the Democrats are back to their “Tax the Rich (MORE)” tactic that can destroy the capital-forming, wealth-building businesses. The scheme is to elevate class envy, further dividing Americans.
In 2018, the richest 1% of Americans paid more than a fifth of all taxes in the U.S., 22.9%.
Market Watch, Feb 26, 2019 | More than 44% of Americans pay no federal income tax
Instead of taxing the rich more, I propose taxing the 76,200,000 Americans who pay no income tax.
The income tax was an invention of the progressives, folks we now call democratic socialists. They think themselves ‘progressive’; their policies prove to be regressive.
The income tax code has become the master instrument for controlling society, what we eat, what we buy, what we sell, how we use what we have in our possession.
What is the definition of madness?
I propose a national sales tax. What could be more equitable and simple? This would eliminate the IRS since all fifty states have simple and effective sale tax collection systems already in place.
John White Rockwall, Texas