I always find it hilarious when people tell me how scandalous low corporate tax rates are and how big companies should pay more taxes instead of pocketing billions. I always answer this question "do you know who pays business taxes? Hint, its not the business" the answer is often "hurr durr it must be the stockholders (thats the ones who feel smart about answering the stockholders)". And I love bulldozing their world conception when I answer that they are intellectually lazy, that they systematically stop at the first step when analysing things. Its ALWAYS the end consumer who pays corporate taxes. If I raise Nike's tax rate by 1% theyll immediately raise the price of those BLM shoes yall are obsessed about by 1%. If it costs them more to produce market and sell the shoes, theyll make sure the price of the shoes is higher to compensate. Most idiots still dont get it.
Whats even funnier is when they explain me that a shoe costs 1$ to make and retails for 100$ meaning Nike pockets 99$. I love answering that the shoe is 1$ but donating money to BLM, making million dollars advertisement, paying big parties for reps and athletes etc.. Costs about 60$ per shoe, and as the buyer, YOU are the one paying for all that champagne and underage party prostitute. They still dont get it. And mind you some of those studied economics at university. Ive lost hope in my fellow canadians...
I always find it hilarious when people tell me how scandalous low corporate tax rates are and how big companies should pay more taxes instead of pocketing billions. I always answer this question "do you know who pays business taxes? Hint, its not the business" the answer is often "hurr durr it must be the stockholders (thats the ones who feel smart about answering the stockholders)". And I love bulldozing their world conception when I answer that they are intellectually lazy, that they systematically stop at the first step when analysing things. Its ALWAYS the end consumer who pays corporate taxes. If I raise Nike's tax rate by 1% theyll immediately raise the price of those BLM shoes yall are obsessed about by 1%. If it costs them more to produce market and sell the shoes, theyll make sure the price of the shoes is higher to compensate. Most idiots still dont get it. Whats even funnier is when they explain me that a shoe costs 1$ to make and retails for 100$ meaning Nike pockets 99$. I love answering that the shoe is 1$ but donating money to BLM, making million dollars advertisement, paying big parties for reps and athletes etc.. Costs about 60$ per shoe, and as the buyer, YOU are the one paying for all that champagne and underage party prostitute. They still dont get it. And mind you some of those studied economics at university. Ive lost hope in my fellow canadians...