Comment Re:Double Irish (Score 4, Insightful) 825
Ultimately, all taxes are paid for by taxpayers. Whether it's directly through income and sales taxes, or indirectly through corporate taxes which get passed on to customers as price increases and employees as pay cuts (or smaller pay raises). The end result is the same - less money for taxpayers, more money for the government.
You can argue that we need more taxation. But never make the mistake of thinking that taxing corporations has zero impact on taxpayers. It has exactly the same economic effect as directly raising taxes on taxpayers. The only thing that gets changed is who gets blamed (people curse the companies for raising their prices, instead of the government for collecting so many taxes).
* Numerical example for people who still don't get it. Say you make $50k/yr and pay $10k/yr in taxes, thus leaving you with $40k/yr to spend on yourself. The country changes law eliminating income tax, and getting all funding from corporate taxes instead. Do you think you'll now get $50k/yr to spend? No. Companies now have to pay an extra $10k/yr per citizen in taxes. So either your pay gets cut to $40k/yr, or prices increase 20% which after adjusting for inflation leaves you with $40k/yr just like before. You see, average real income is purely a function of productivity. And changing how taxes are collected doesn't change average productivity per capita. So where from the economy you extract taxes can't change the amount of real take-home pay. It's all just shell game.