Now that Romney unveiled he pays less of a percentage in taxes than you tip the waitress at the local diner, conservatives are now changing their tune regarding capital gains and corporate taxes.
For years and years, conservatives have consistently told the American people that raising taxes on corporations essentially was raising taxes on the consumer. Their story was that all taxes are passed onto the consumer in order to keep the after tax profit margin the same for their investors, right?
Now with the revelation of Mitt’s 13.9% tax rate, they are saying that capital gains taxes are essentially “double taxation”. This is because all profits belong to the investor and a corporate tax reduces the how much of a dividend check is cut for Mitt Romney. So Mitt would have a bigger dividend check if corporate taxes were low.
So which is it? Are all corporate taxes passed onto the consumer, thus insulating Mitt Romney from tax increases, or are corporate taxes a tax on the investor?
Either the conservatives lied to us before or they are lying to us now.
Image: Financial Press