Anonymous #1 1w

How so?

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Anonymous #2 1w

The result of raising the corporate income tax is slower wage growth and hiring. Customers also pay some of the tax in the form of higher prices.

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Anonymous #2 1w

As taxes rise, those businesses have less after-tax income, so investors receive a lower rate of return. This effect is not isolated to Wall Street and large investment houses, virtually every American saving for retirement has some kind of investment vehicle that relies on corporate after-tax income.

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Anonymous #2 1w

The portion of the corporate income tax that is paid by investors falls on blue-collar workers with pension plans, nurses and teachers just as much as it falls on professional investors. Every time the corporate income tax is raised, these people’s retirement accounts lose steam.

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Anonymous #2 1w

I don’t understand why people are downvoting this, I’m not defending the corporation, I’m defending the people who will actually have to pay

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Anonymous #1 1w

I don’t think it’s right that corporations get to punish the consumer/retirement plans when their taxes rise. Homeowners can’t do that when their taxes go up. If corporations are going to suffer so much because of a 2% tax hike then they need to be looking at their spending. Maybe that means fewer jobs but I suspect there are other ways to reduce it (does a CEO need millions of dollars in a yearly salary??) A corporation’s profit is less important than the people’s needs IMO.

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Anonymous #2 1w

Of course any one decision is going to impact other decisions (ie when homeowners pay more in tax they’re less likely to spend at local businesses in an effort to save money) but I think there are definitely options corporations can look at to still see good profits without sacrificing the wellbeing of their investments and their consumers. They just choose the easiest option that oftentimes scares politicians into compliance

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Anonymous #1 1w

I think people are downvoting you because you are talking as this is a normal and inevitable thing that isn’t wrong. Everything you’ve said here makes sense, but at the end of the day it’s not how things should be and most people want to see the system change. The first step to doing that is implementing things like corporate taxes and incentivizing corporations to consider alternative options that don’t harm the consumer

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Anonymous #2 1w

I never said that it wasn’t wrong, and as for corporate tax, specifically he campaigned to increase the New York's corporate rate from 7.25% to 11.5%, I include this for accuracy’s sake. Implementing more corporate taxes isn’t going to solve anything, what other options would you suggest to them?

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