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vpoko
Premium
join:2003-07-03
Boston, MA
reply to FFH

Re: Worth repeating - corporations don't pay taxes-customers do

That's swell, but Verizon is a C corporation, which has a tax liability independent of its owners. They're expected to pay taxes, and yes, pass them on if they're able to do it without losing customers. Remember that the shareholders themselves are taxed at the capital gains rate, which is less than half of the ordinary income tax rate. That's done because they're an expectation that the corporation already paid tax on that money. Time to raise the capital gains rate to match the ordinary income rate.