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A Matter of Who Pays the Taxes

An editorial in this morning’s Richmond Times-Dispatch questions the frequently held opinion “that the business community is anti-tax.” Rather, the editorial says:

“The view is misinformed. Corporate America does not object to high taxes per se. It depends on who's paying.”

The newspaper considers a letter sent to the General Assembly by the Virginia Chamber of Commerce and the Virginia Manufacturing Association which:

“notes with alarm proposed changes to the Virginia Constitution allowing a homestead exemption. The proposals would permit localities to exempt up to 20 percent of the value of a home for tax-assessment purposes.”

The concern of the two business groups, as the editorial points out, “lies in the worry that the homestead exemption would shift the weight of the tax burden from individuals to business.” While the editorial doesn’t question the groups for trying to protect business interests, consider that :

“when a business group praises the virtue of keeping taxes low, it might not necessarily be talking about yours.”

While it’s important to keep in mind that business is the engine of America’s economy, keep in mind that corporate America, especially big business, has it’s own interests, too.

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