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> But even then the claim was that prices would come down eliminating most of the cost of the tax (due to no taxes on businesses including payroll taxes) We a
by zibby8 4y ago
> But even then the claim was that prices would come down eliminating most of the cost of the tax (due to no taxes on businesses including payroll taxes)
We actually frequently try lowering corporate taxes. What we find is that prices stay high, wages stay low, but profits increase. Crazy.
- nightski 4y agoNot payroll and other taxes. You are talking taxes on corporate profits.
- PaulDavisThe1st 4y agoFairly sure most people would consider that "corporate tax" (even if some other things might also be "corporate tax")
- nightski 4y agoI'm not following, it doesn't really matter what they consider it - I don't remember it being done before (reducing payroll taxes). Currently both the employer and the employee pay a big chunk here. In addition sole proprietors and self employed individuals pay even more.
- PaulDavisThe1st 4y agoI'm a self-employed sole proprietor in the USA. I get to exclude 20% of my income from taxation for no reason other than TFG deemed it a good idea. You appeared to be making a claim that cutting taxes on corporate profits was somehow not cutting corporate taxes.
- nightski 4y agoA sole proprietor isn’t a corporation. I get the 20% deduction as well but it only applies to self employed individuals. All I was saying is I don’t think they have tried cutting corporate taxes other than the main corporate tax rate on profits. I think there was a misunderstanding.