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This article confuses several topics. It lures the reader in with the reasonable proposition that personal tax cuts for Bill Gates and other billionaires does n
by BenFranklin100 2y ago
This article confuses several topics. It lures the reader in with the reasonable proposition that personal tax cuts for Bill Gates and other billionaires does not benefit the poorer class, but ends on the conclusion that high corporates tax rates and business regulation are thus good things. The topics are related in the sense many wealthy people own companies (as do most middle class Americans via stocks and 401K plans), but are distinct. In fact, several lines of economic thought criticize high corporate taxes on equality grounds: corporate taxes are blunt instruments and when they are raised, it’s not the CEO or board who takes the pay cut, it’s the rank and file worker the CEO and board decide to fire.
The article then tries to argue against business deregulation. Certainly there are industries that need more regulation (I.e. better privacy standards would benefit society), but the article makes no specific arguments against dysregulation other than a shallow pejorative association with Ronald Reagan, a politician the author clearly detests.
All in all, this is a poor, confused mess of an article that serves as more of a rant than any sort of analysis.