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Conservatively Speaking

State Senator Mary Lazich (R-New Berlin) represents parts of four counties: Milwaukee, Waukesha, Racine, and Walworth. Her Senate District 28 includes New Berlin, Franklin, Greendale, Hales Corners, Muskego, Waterford, Big Bend and parts of Greenfield, East Troy, and Mukwonago. Senator Lazich has been in the Legislature for more than a decade. She considers herself a tireless crusader for lower taxes, reduced spending and smaller government.

See how you pay corporate income taxes

By Mary Lazich
Monday, Nov 3 2008, 01:36 PM


The nonpartisan Tax Foundation in Washington D.C. has announced the winners of its CompeteUSA YouTube Contest. Contestants produced videos about America's high business tax rates and their impact on our country’s wages and ability to compete.

The Tax Foundations reports that data shows, “America has the second-highest corporate income tax rate in the industrialized world, and the American worker shoulders a disproportionate amount of the corporate tax. As a result of America standing still while nine key trading partners cut their corporate tax rates last year, our corporate tax rate is now 50% higher than the OECD (Organisation for Economic Co-operation and Development) average.”

Third prize in the contest went to Lori Harfenist of Brooklyn, New York for her video, "Taxes, Schmaxes."





Second prize was awarded to Craig Kirchoff of Alexandria, Virginia  for his video called, “Sally, the Corporate Income Tax and You."
 






First prize went to Andrew Patterson of Edmond, Oklahoma for his video, "Tax Attack."

Comments

had to comment   

Corporations do not have to pay income taxes. If they reduce their taxable income to zero by distributing all profits to employees through wages or by plowing all their profits back into the business operation they will not pay income tax. If they choose to show a profit so they can pay dividends to their shareholders the corporate income tax and tax on dividend income to the shareholder combine to reduce the tax burden on the hard working employee.

Not having a corporate income tax on profits retained by the corporation would result in people forming corporations to retain and shelter their personal wealth from taxation in these companies. This would result in an even bigger tax burden for the average citizen.

November 4, 2008 10:36 AM

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