Quote:
Originally Posted by james0246
^Corporate taxes are income taxes (any financial income is taxed, whether it be a person, corporation or other legal entity).
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Yeah, technically one's wages shouldn't even be considered income, but this conversation was generally oriented towards the personal income tax.
Quote:
Originally Posted by james0246
Personal Income taxes are used to pay for social security, health, and defense, with most going to the first 2. So, Income taxes are used directly for Defense, even if they only represent a portion of the Defense budget (Congress and the Presidency have been foolishly overwritting bills for far to long).
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Two-thirds of the personal income tax is wasted or not collected, the rest is absorbed in paying on the national debt.