In this episode of Fascinating!, Rik from Planet Vulcan dissects the belief that taxing corporate income is a fair and just way to hold corporations accountable. With wit and sharp analysis, Rik unpacks the misconception that corporations are somehow separate entities that can be taxed without consequence. Instead, he explains that corporations are merely legal constructs—a “nexus of contracts”—and that in reality, it’s actual people who ultimately bear the burden of these taxes.
Rik delves into the complexities of tax incidence, exposing how the costs of corporate taxes are passed on to consumers, employees, and suppliers, leaving no one unscathed. He also challenges the broader issue of income taxation itself, suggesting that a shift toward consumption taxes, or even a carbon tax, might better align with fairness and economic efficiency. If you’ve ever wondered who’s really paying when governments tax corporate income, this episode will leave you with a whole new perspective.
