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Warpy

(113,130 posts)
10. Actually, the corporations do need to pay their taxes
Sun Oct 16, 2022, 06:18 PM
Oct 2022

instead of stashing the profits overseas, where no one but the major shareholders can get to them. That's why a minimum corporate tax rate was passed. Tech companies were really playing games with this stuff, which is why even profitable ones weren't paying dividends, no profits showed on US balance sheets.

Remember, taxes are only on net profits, not gross profits. They don't add to the cost of producing, marketing, transporting, or doing anything else to bring an item out to sell it. These assholes have been making billions and getting a free ride from the US taxpayer for decades. Their free lunch is over. It won't affect prices.

But yeah, raise wages and tax the rich. It all needs to be done.

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