Quote:
Originally Posted by gasman
That is a good point, but at some point even the money spent on Vegas, Golfing, "BD" and Car rentals are going back into the economy. Does Teatro stay open if they are empty 3 nights a week?
There are plenty of examples of companies that sit on cash, Apple being probably the best know example, their business model seems to work...
Personally, as an owner of a small business, lower corporate taxes mean I either pocket more money in the form of dividends (which get taxed at both the corporate and personal level) or I spend more on "expenses" most of which end up going to local business.
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I fully understand this as the owner of a small business myself. I can't speak for others, but I can say that most of my write-offs for "CE credit hours" are spent in other countries, paid for by the operating company. My holding company doesn't have to pay tax on these expenses because it never makes it there as income. I'm perfectly ok not getting my post-tax divies when vacay is paid for by my pre-tax dollars.
Believe me, it hurts me too to raise corporate taxes. I don't want to see it, but I also wouldn't be too offended if it happened.