Political Quotes

“Just to explore that a little further and that would be, looking at the corporate tax structure, there's corporate income tax, and then there are all of the wages that are paid out in payroll taxes to the employees. And of course one of the most regressive taxes we've is the payroll tax. And so one might argue that, well, those taxes are paid by the corporation, that half of the payroll, that .0765 that I have multiplied so many times with my employees that I've had over the decades. And of course that .0765 which is half of the 15.3 percent in payroll tax, half comes out of the employer, half comes out of the employee. However, the half that comes out of the employer would be wages for the employee because it is a cost of doing business, it's a cost of competitiveness. And so when we add into the price of the goods and services provided by corporations, and I don't mean just corporations, they can be LLCs, they can be partnerships, sole proprietorships, you name it, a business entity that hires employees and/or provides goods and services for retail market or supplies to those who do, all of that structure of their taxes is built into the price. And a fair amount of research brings us to a number that is generally considered to be about 22 percent of the retail price of goods and services sold in the United States as the tax component paid by the suppliers that get it into the marketplace and in the end paid by the consumer.…”