Sunday, June 5, 2011

Idiots of the World Unite! Econ 101

Some idiots are after Apple because it doesn't pay its "fair share" of income taxes. Econ 101 - corporations don't pay income taxes. An income tax is a "cost" to a corporation, just like all the other costs that a corporation must deal with, and it passes them through to its customers by building the costs into the price of the goods or services that it sells. Thus, what these rocket scientists are really saying is "Tax us (the customers) some more!" Brilliant. They are either idiots for not knowing this, or knaves for understanding it perfectly well and just making a disguised grab for more taxes from the long-suffering populace.

www.macworld.com/article/160302/2011/06/apple_taxgroup.html

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