I can't figure out how corporate taxes are anything more than an illusion.
A corporation is a collection of individuals, who are each taxed on their respective gains. The concept already breaks down ...
If businesses could just raise prices, why wouldn't they have already done it? Why wait for a tax increase?
In the long run, all taxes are born by labor (as reduced real wages) and land owners (as reduced capital values).
Price adjustments cancel out the effects on other factors of production.
In the long run, all taxes are born by labor (as reduced real wages) and land owners (as reduced capital values).
Price adjustments cancel out the effects on other factors of production.