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Politics : Formerly About Advanced Micro Devices
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Bonefish
miraje
To: dj55 who wrote (1469402)7/15/2024 6:02:21 PM
From: Tenchusatsu2 Recommendations  Read Replies (1) of 1572941
 
Dj55,
Federal tax revenue for the US was comprised of Individual tax revenue, 54%. Payroll tax, 30% Corporate tax 9%, other sources 7%.
This is another falsehood perpetuated by the left.

Corporations don't pay income taxes. Consumers do via higher prices, lower profit margins, and higher barriers to entry for competitors.

Besides, higher corporate taxes favor large corporations because they can absorb the cost. Smaller companies cannot.

Tenchusatsu

P.S. - If you really want everyone to pay their "fair share" of taxes, you would argue for a flat tax. No exceptions, no loopholes, no deductions, no nothing. Just set an income floor and tax all wages above that floor at a fixed percentage.
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