The Estimated Cost of Automobile Jobs Saved Due to Limitations

question 3

Essay

The estimated cost of automobile jobs saved due to limitations on foreign autos is $105,000 per job.Why is there a cost to saving jobs through protectionism?

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Definitions:

Subchapter S Status

A tax designation for small corporations that meet specific IRS requirements, allowing income to be taxed at the shareholder level rather than at the corporate level.

Subchapter S Corporation

A type of corporation created through an IRS tax election to pass corporate income, losses, deductions, and credits through to shareholders for federal tax purposes.

Schedule K-1

A tax document used to report the income, losses, and dividends of a partnership or S corporation's partners or shareholders.

Separately Stated

Items on a partnership or S corporation tax return that must be reported separately on the owners' personal tax returns.