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> The tax burden in the US already is mostly on the working class Blatantly incorrect. 89% of income tax revenue comes from families making $120k or more. >
by legitster 2y ago
> The tax burden in the US already is mostly on the working class
Blatantly incorrect. 89% of income tax revenue comes from families making $120k or more.
> Corporate tax rates were low and were reduced further
Corporate income tax is a side show. Most money that doesn't get taxed will get paid out either as purchases, salaries, or returned to investors. So either a sales tax, a personal income tax, or a capital gains tax. So a large cut to the corporate income tax only has a small overall effect on the overall tax burden.
- einpoklum 2y ago> 89% of income tax revenue comes from families making $120k or more. which are still mostly working class, i.e. their participation in the economy is through the sale of their labor power for a salary. > Corporate income tax is a side show. money ... paid out as purchases... returned to investors... So, not a side show then.