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Put this in the pile of "Sounds good" idea pile, rather than the "Good, Sound" idea pile.

What? You didn't hear about this? If you pay attention to the news, you did hear about it, he just didn't use those exact words. Biden is proposing a massive corporate tax hike. That's what he said, what he meant is a tax hike on you. Let me explain.

A business, be it a mom-and-pop shop, or a multi-national corporate conglomeration, has revenue and expenses. A profitable business has more revenue than expenses. The difference between the two is called profit. If expenses are greater than revenue, the business will sooner rather than later go out of business. If expenses exceed income, the company will try to cut expenses and/or raise prices. The net profit is almost never cut, because if there is no net profit, why even have the business?

Here's my point. Taxes are an expense to the business. Just like office supplies or building rent, taxes deduct from the revenue of the company. True, taxes are paid first, payroll second and everything else third, but taxes are at the end of the day just an expense that counts against revenue. This is different from "pass-through" taxes where businesses collect things like the sales taxes you're charged at the register. The business counts that as income, but not revenue. Yes, there is a difference.

So, the only thing a corporate tax hike does is raise prices of what you buy. The business sees its' expenses increase because "they" are paying taxes, and in the end, they add all the expenses together, add their net profit on top of that, and adjust their prices to you on top of that.

This is on top of prices already increasing because Biden's out-of-control federal spending is giving us inflation on a scale we haven't seen since Jimmy Carter.

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