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February 10th

This one is simple to explain. Corporations do not pay tax. Consumers pay it in the form of higher prices. Worker pay with lower wages and benefits. The unemployed pay it with less jobs. Shareholder pay with lower returns. And because shareholders pay, so do pension holders and 401k owners.

More pretax income means corporations can use their own money instead of relying on reluctant banks for investment. Without a corporate tax, industry interest can’t lobby for tax advantages.

And since politicians only care how much this would cost government, the answer… not much. This year, I doubt there are enough profiting companies to make a significant impact. In the long-run, it would mean more revenue due to economic growth.

Once again, this is something so simple a web developer can understand and only a Harvard economics professor can propose it.

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