The vice president is rolling out her first revenue-raising policy proposal as the Democratic presidential nominee and drawing a contrast with GOP opponent Donald Trump.
The amazing economy that these MAGA people dream of getting back to can be largely attributed to two things. The first is lots of manufacturing, which the CHIPS Act is a step in the right direction towards, but is impossible to ever really get back to ever since Nixon opened the door to China as a trade and manufacturing superpower in the 70s, and companies decided to lower costs by sending manufacturing over there. The second is a MUCH higher business tax rate. At one point, it was 91%. I’m not saying that that’s the correct rate in the modern economy, but 28% ain’t shit. Raise it to 40% at least, and then use that additional revenue to get everyday Americans’ heads above water.
I’m an extremely lucky 35-year-old American white guy, married with no kids or pets, denied ourselves several comforts and luxuries, and I’m still just now at a point where I’m trying to buy my first home. I have almost every advantage possible, and I’m still over ten years behind my parents’ generation. That shit ain’t right. Help us, the people.
The higher the corporate tax rates the more the companies reinvest into the company to keep profit margins down which causes the economy to flourish rather than funneling as much cash as possible to shareholders.
Companies generally would rather pay their own workers more than pay more in taxes. If you’re going to lose the money anyway, might as well spend it keeping your workforce happy than give it to the government.
The amazing economy that these MAGA people dream of getting back to can be largely attributed to two things. The first is lots of manufacturing, which the CHIPS Act is a step in the right direction towards, but is impossible to ever really get back to ever since Nixon opened the door to China as a trade and manufacturing superpower in the 70s, and companies decided to lower costs by sending manufacturing over there. The second is a MUCH higher business tax rate. At one point, it was 91%. I’m not saying that that’s the correct rate in the modern economy, but 28% ain’t shit. Raise it to 40% at least, and then use that additional revenue to get everyday Americans’ heads above water.
I’m an extremely lucky 35-year-old American white guy, married with no kids or pets, denied ourselves several comforts and luxuries, and I’m still just now at a point where I’m trying to buy my first home. I have almost every advantage possible, and I’m still over ten years behind my parents’ generation. That shit ain’t right. Help us, the people.
The higher the corporate tax rates the more the companies reinvest into the company to keep profit margins down which causes the economy to flourish rather than funneling as much cash as possible to shareholders.
Companies generally would rather pay their own workers more than pay more in taxes. If you’re going to lose the money anyway, might as well spend it keeping your workforce happy than give it to the government.