JP Morgan Paid $1.9 Billion For Washington Mutual And Now It Wants A $1.4 Billion Tax Refund
How's that bailout looking? Net positive for the economy? Here's a thought to keep in mind. Corporations don't pay taxes. Not like you and I anyway. Sure they bitch about it, and Neocon Republicans complain about double taxation, but it's a false argument. Corporations pay taxes on earnings, not income (revenues). We pay taxes on income. How nice would it be if we paid taxes on our "net." So, start with your salary, take out mortgage, credit card bills, house bills, 401k deposits, etc... then pay taxes on what's left. That wouldn't be too bad, would it?
How's that bailout looking? Net positive for the economy? Here's a thought to keep in mind. Corporations don't pay taxes. Not like you and I anyway. Sure they bitch about it, and Neocon Republicans complain about double taxation, but it's a false argument. Corporations pay taxes on earnings, not income (revenues). We pay taxes on income. How nice would it be if we paid taxes on our "net." So, start with your salary, take out mortgage, credit card bills, house bills, 401k deposits, etc... then pay taxes on what's left. That wouldn't be too bad, would it?
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