Not really, because they are in a position to reduce their income to naught, all the while hoarding enormous wealth. We’d need to restructure income tax somehow, to make the schemes they frequently use ineffective.
Reducing spending is not enough either, if the super rich are allowed to keep hoarding wealth exponentially, while also reducing their income tax exposure to naught. Both fronts should be tackled simultaneously.
We need to increase corporate income taxes for mid to large size companies as well. Do this and you stop stock buybacks and you increase corporate investment in their company and employees. Low corporate taxes don't increase economic activity
You know what’s another tax corporations face that is passed onto the consumer? Tariffs.
Also, worth noting that companies saying “don’t tax us or we’ll raise prices” is extortion. So… if companies are willing to play that game, maybe the gov should step in and prevent them from gauging prices in response.
It never works for the government to step in. It always goes the opposite way you want it to go. So some tariffs are being paid by the foreign countries. China paid the tariffs before and are picking up most of it now. But their banks are collapsing. Dozens in the last two weeks. It’s killing them.
Y'all don't understand how this works. Allowing mid to large corporations to have low taxes gives them a lower incentive to reinvest their excess revenue into growth. The profits are used to buy back stock, or pay large dividends. By taxing excess revenue, corporations have an incentive to use that excess revenue to grow their company, or take better care of their employees. Doing this lowers their taxable income.
Studies have shown that higher corporate taxes does not dramatically increase tax revenue. That money is spent elsewhere. Think about it, if you are a large company, would you rather send your excess revenue to the government or spend it improving your company and taking better care of your employees?
Yes, small family run companies should have a lower tax rate.
It looks like a conscience. He talks about what a company can do with his profits and then talks about extortion using taxation.
Here is the crux. It'd be so nice if Corporation would use their excess profits to invest in the companies and improve employees lives.
IF YOU DON'T DO WHAT WE WANT WE WILL EXTORT YOU THROUGH TAXATION USING THE GOVERNMENT !!!!
Yeah, neither him or AOC smuggled weapons to Iran to fund Nicaraguan paramilitary groups. Also, Trump is deporting illegal immigrants instead of giving them amnesty like Reagan did, which turned California forever blue. Thank GOD Trump is nothing like Reagan!
Show of Hands
Comments: Add Comment