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Corporations don’t really pay taxes, the taxes are actually paid by the consumer and passed through as increased prices and fees for services and products. Further, when that same corporation pays dividends on the profits to the shareholders of the corporation the money is now taxed again as income to shareholder at their current income tax rate. So in actuality the money is getting tax twice.
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The original lock and this one shows exact what’s wrong with the world today...
Some of the people in this world are completely and utterly fucked up in the head... I actually feel sorry for some of you!
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Ain't nuttin wrong wit me Niggah!
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Apparently 20% of the population owns 86% of the nations wealth. This is probably a conservative estimate. Capitalism does work for some it seems. This figure will only go up due to Trumps tax cuts for the wealthy. This kind of wealth disparity is not consistent with a democracy. This is one of the main reasons we are seeing such turmoil , homelessness , divisiveness, etc. now.
In truth we no longer have a free enterprise system. Capitalism has morphed into a system of monopolies controlling the market. More than that capitalism is a system that seeks to maximize profits. That is its essential law. So in order to do so capitalism expands beyond national borders in seek of the cheapest labor.
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jim_jones is correct about double taxation of corporate earnings, but who pays the tax is different from the incidence of the tax which is whom the tax burden falls on. The incidence depends on the elasticity of supply and demand.
I have to disagree respectfully with thedon60 about monopolies. I’m sure if you run a business yourself, you recognize that there is a tremendous amount of competition in the US marketplace. Consumers have so many choices if they don’t like a particular company’s offerings. The sheer volume of product and service diversity is really almost unbelievable.
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It may come as a shock to some people but the United States is not and has never had a completely capitalist economy.
In fact we have the exact same system as every other advanced democracy. It is called a mixed economy. By mixed we have a mix of both public and private investment. The differences are the amount of public vs private investment.
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private investment is the same as public, just on a much larger scale
capitalist/ free market is only distorted by monopolies and gov't lack of regulation
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