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This is objectively untrue. The wealthiest corporations and people overwhelmingly pay the LEAST share of taxes. Your shifting of the playing field smells like
by justaaron 8y ago
This is objectively untrue. The wealthiest corporations and people overwhelmingly pay the LEAST share of taxes.
Your shifting of the playing field smells like an excuse.
1) Whereas the federal budget has not been reduced.
2) Whereas the large monopolies and billionaires pay less (see: the $1.5 trillion tax cut for the top, and how it's hoarded rather than invested) tax
therefore we are compensating for Amazon and Netflix etc paying less tax.
Corporate taxes should grow with the size of the corporation. We should encourage small businesses as they spur innovation, mostly fail, and are the backbone of a stable economy, vs slave labor for globalized zombie corps like Amazon.
https://www.forbes.com/sites/teresaghilarducci/2018/09/28/who-benefits-from-the-tax-cut-10-months-later/ https://www.forbes.com/sites/teresaghilarducci/2018/09/28/wh...
https://www.cnbc.com/2018/06/20/now-we-know-how-major-corporations-are-spending-tax-cuts.html https://www.cnbc.com/2018/06/20/now-we-know-how-major-corpor...
by all accounts, the opposite of an economic "pump" is when you give a tax cut to the already filthy rich.
The tax base has been shifted to the middle and lower class. Plain and simple.
- ChrisLomont 8y agoCBO and IRS reports on taxes show the richest pay the vast majority of Federal taxes, and a significantly higher rate than the middle class and poor. Care to cite otherwise? Here’s a summary of CBO data [1]. IRS also posts much more detailed tax stats with the same results. [1] https://www.taxpolicycenter.org/statistics/historical-average-federal-tax-rates-all-households https://www.taxpolicycenter.org/statistics/historical-averag...
- JetSpiegel 8y ago35% of trillions is still trilliions. 10% of 10k is difference between eating everyday and not. The marginal utility of money is negative past the first 10M per capita, if not less.