Thursday, October 16, 2008

"And the corporations sit there in their... in their corporation buildings, and, see, they're all corporation-y!"

Good illustration on why all taxes impact people.

The Corner on National Review Online
The Tax Foundation's Tax Policy Blog has been doing great fact-checks of the candidates after each debate, and I thought this excerpt from tonight's post was worth sharing with Corner readers:

Throughout the debate, Sen. Obama repeatedly showed an unfortunate ignorance of one of the fundamental principles of taxation: all taxes are paid by people. On multiple occasions, Obama claimed that businesses or corporations "can afford" to pay higher taxes. But such a statement is just ridiculous. Companies have no "ability to pay" taxes. Does the corporation's building pay the tax? How about its fax machine or water cooler? No. People pay the taxes. Here is one such example of why Sen. Obama would get an F in public finance:

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