POLITICAL: Only real people pay taxes

Saturday, October 9, 2010

http://www.lewrockwell.com/williams-w/w-williams53.1.html

Politicians Exploit Economic Ignorance by Walter E. Williams

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What about the politician who tells us that he’s not going to raise taxes on the middle class; instead, he’s going to raise corporate income taxes as means to get rich corporations to pay their rightful share of government? If a tax is levied on a corporation, and if it is to survive, it will have one of three responses, or some combination thereof. One response is to raise the price of its product, so who bears the burden? Another response is to lower dividends; again, who bears the burden? Yet another response is to lay off workers. In each case, it is people, not some legal fiction called a corporation, who bear the burden of the tax.

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So the corporate tax rate should ALWAYS be zero. Anything higher and it’s the politicians trying to sheer the sheeple!

Corporations don’t “pay” taxes; only real flesh and blood people do. Corporations provide politicians “cover” because the Sheeple don’t recognize the tax is buried in the price.

When the tax is put on a capital asset used in the production of other goods (like gasoline) the impact is magnified. So every UPS package that’s delivered has that gas “tax” factored in.

When UPS buys the trucks that GM paid tax on, that’s buried in the cost of every package delivered.

They taught us this in injineering school. No one can really know how much tax they are paying and the politicians and bureaucrats like that just fine. Argh!

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GOLDBUG: 5% is a modest amount

Saturday, October 9, 2010

http://www.lewrockwell.com/orig5/johnsson8.1.1.html

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Gold is probably the only asset that could eliminate the mountains of debt we see today. And the folks in the governments of China, Russia, Nepal, etc., have already realized this. Hundreds of millions of people around the planet has also already realized this. Or rather, they haven’t forgotten, or they haven’t been brainwashed into believing gold is simply a “barbarous relic.” They are accumulating gold. For example, in China the government is running TV ads (available at YouTube) encouraging people to have at least 5% of their assets in physical gold and you can get gold coins and bars at any decent shopping mall, at banks and at airports. I know it’s the same in Russia, and I wouldn’t be surprised if it’s the same in India.

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5% is a modest amount. But, most folks in the US have zero. They may have etfs, or such paper. That’s not gold!

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