Republicans love to harken back to “the golden age” of america. Ever wonder what paid for it? A big portion was … corporate tax!
https://taxfoundation.org/data/all/federal/historical-corporate-tax-rates-brackets/
Corporate tax is currently at the lowest point since 1940
https://tradingeconomics.com/united-states/corporate-tax-rate
See this big drop in corporate tax? You thank ol’ trumpy for that
Along with personal income tax - Note this is the top bracket of tax
https://fred.stlouisfed.org/series/IITTRHB
Want your golden age back? Tax these fucking billionaire grifters.
Another thing that raising the corporate tax rate does is make it more profitable to re-invest your income into the company. Since they’re only taxed on profits they’ll pay zero taxes if they make zero profit. How do you do that? Expanding your business, spending money on R&D, and paying your employees more.
Edit: Haha, just kidding, they’ll blow it on stock buybacks.
