Business Taxes Are Just Hidden Sales Taxes

Hong Kong Harbor

.

.
ALL of the costs of doing business are passed on to us, as consumers, as prices. Those costs, as well as the cost of commodities, including labor, help set market prices.

That's true in banking, industry, small stores/businesses...even rental/residential real estate/properties.

The costs of housing (utilities, maintenance, property taxes, etc) ALL have to be paid by the consumer/renter...and they SHOULD BE.

THAT'S who rightfully pays those costs. There's no other way. The building is purchased and the cost or rent is computed above all the costs of owning and maintaining that building owner bought that property to make money (which is a noble goal), not as a charity. Who could afford that?

Now, governments CAN tax things so high that commerce all such ceases, BUT under no circumstances has government ever been able to run a business effectively, nor even provide adequate housing. NYC tried that, under the guise of "making slumlords pay." The result is today, the government of NYC is that city's biggest slumlord. NYCHA (the NYC Housing Authority) doesn't maintain its buildings, provide enough heat (https://nypost-com.cdn.ampproject.org/…/feds-city-cov…/amp/…) and NYCHA is the worst slumlord that city has ever seen.

NOTHING is ever "free." NOT food, housing, clothing, nor healthcare. We either pay for all those things via free enterprise, at market prices, or we pay even more when governments attempt to provide them through layers of bureaucracy and waste.

The United States hasn't had a free/open market since 1914. What we have today is a "rigged," or heavily regulated market.

Hong Kong, also has a highly regulated market, despite being the freest market in the world today

Hong Kong's Income (in Hong Kong Dollars/HKD) Tax rate:

1 to 40,000 HKD = 2%
40,001 – 80,000 HKD = 7%
80,001 – 120,000 HKD =12%
Above 120,000 HKD = 17%

Tax rate on capital gains = 0%
Tax rate on income earned overseas = 0%
Tax rate on dividends from a Hong Kong company = 0%

On businesses Hong Kong follows a single-tier tax system. That is, there is no dividend tax, nor any capital gains tax in Hong Kong, just a flare rate of 16.5% on all assessed profits.

Hong Kong has an attractive corporate tax climate highlighted by low tax rates. As a result, Hong Kong has one of the highest standards of living in the world.

The reason we have the economic issues we do is primarily due to the size, scope and ponderous cost of our government.
.