Just a symptom of why the US has budget issues constantly every year.
Companies that can afford to pay taxes with absolutely zero negative impact to operations instead get a free ride. Meanwhile most individuals pay half their income to taxes and half the country lives paycheck to paycheck.
I always like to point out that the billionaire tax cut only encouraged companies like this to give higher bonuses to their already rich executives and taking money away from their employees. I’m no accountant, but I’m willing to bet those bonuses factor in to how little taxes the corporation pays.
You want money to trickle down? Tax the executives 70% over $10 million of income. Either the company will take a profit and pay taxes, pay their executive bonuses and the majority will just go to taxes (and the executive will still be filthy fucking rich), OR they will increase how much the bottom earners get who will be paying a much lower amount in taxes.
Ya, the incredibly wealthy used to build public infrastructure because they were taxed at like 90% and they thought they might as well make what they want and have it be a donation than let the gov take the money. Now they don’t build anything AND are taxes lower than everyone else.
Just a symptom of why the US has budget issues constantly every year.
Companies that can afford to pay taxes with absolutely zero negative impact to operations instead get a free ride. Meanwhile most individuals pay half their income to taxes and half the country lives paycheck to paycheck.
But when that sweet sweet money starts trickling down…
Any year now…
Any decade now…
deleted by creator
I always like to point out that the billionaire tax cut only encouraged companies like this to give higher bonuses to their already rich executives and taking money away from their employees. I’m no accountant, but I’m willing to bet those bonuses factor in to how little taxes the corporation pays.
You want money to trickle down? Tax the executives 70% over $10 million of income. Either the company will take a profit and pay taxes, pay their executive bonuses and the majority will just go to taxes (and the executive will still be filthy fucking rich), OR they will increase how much the bottom earners get who will be paying a much lower amount in taxes.
Ya, the incredibly wealthy used to build public infrastructure because they were taxed at like 90% and they thought they might as well make what they want and have it be a donation than let the gov take the money. Now they don’t build anything AND are taxes lower than everyone else.
Thank you Reagan!
Raise the standard deduction to 100k. Tax anything more at 30%
This does nothing about the issue I presented.