Corporate taxes likely added to consumer prices
Monday , June 16, 2014 - 3:31 PM
I wish to take issue with the June 10 editorial, “Raise state’s corporate tax.” The taxing of corporations is merely a smoke screen. Corporations are people. If they are taxed at all, it should be only a fair tax on publicaly-owned resources that they deplete in their operations.
Politicians and misguided followers like to appear to shift the burden of taxes to anyone rather than the voting public to gain votes and support for their ulterior motives; and the gullible public swallows this false premise.
Corporations do not pay taxes regardless of appearances. Corporations merely add the tax to the price they must charge for their services or products. This reduces their competitive position in the world market. The consumer ultimately pays the tax.
Even though the corporate tax rate in Utah is low, it would be better to eliminate it to the extent possible. It would improve the business climate of the state and bring greater prosperity. Companies would flock in to boost the economy, hire people, pay taxes and improve conditions dramatically. An improved economy would help to pay off our “$3.5 billion state debt.”
The net gain would be shared by the state, corporations and the consuming public. If the “people” of the corporations were to enjoy a personal increase in their income, they would be further taxed at the individual rates.
We should not trust these dishonest “public servants.” And we of the paying public should get better informed so that we will not be deceived. We want prosperity, not promises and smokescreens.
Let us tell the politicians to get rid of this subterfuge.
Norman R. Farr