MRC poll? Does one really need the two columns? Pretty simple math there dude. That chart was made for the intellectually challenged.
I have a question for you ole wise one. Does the extra tax rate charged by the government get added to the price of goods and services by the corporation paying the increased taxes?
Or, do you want me to believe corporations will eat the extra tax cost and let it lower their bottom line profit?
Think before you answer... put yourself at the level like you are at right now as a property owner. If your property tax goes up are you going to increase the rent rate or are you going to eat the tax hike and take home less money? Be honest now... no excuses about how you like the way the states and Feds spend money that improves your life...
Kamala Harris Targets American Businesses With Massive Tax Hike
John Carney19 Aug 202430
2:15Vice President Kamala Harris is gunning for businesses with a plan to hike taxes.
As part of her presidential campaign, Harris is pushing to hike the corporate tax rate to 28 percent, a move that critics say could hit the economy hard just as the country tries to steady itself.
Harris campaign spokesman James Singer
confirmed the plan to NBC News, claiming—without evidence— that the tax increase is “a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.”
Contrary to Singer’s claim, raising taxes on businesses does not put money back in the pockets of working people. Instead, it puts more money into the coffers of the federal government.
The hike could significantly weigh on economic growth and discourage investment inside the U.S. By raising the statutory rate higher than those of many other major economies, the tax could drive businesses abroad.
“At a 28 percent federal rate, the U.S. corporate rate would be roughly 32 percent and the second highest in the OECD,” AEI senior fellow Kyle Pomerleau
.
Harris proposes raising the corporate tax rate to 28%, rolling back a Trump law x.com" / XHarris’s tax plan is part of her attempt to shore up her presidential platform ahead of the Democratic convention, but it’s a risky gamble. Until now, she’s been vague about how she’ll fund her expensive proposals, like subsidizing home purchases for first time buyers and transferring personal medical debt to tax-payers.
This isn’t even the first time Harris has floated a tax hike. Back in her failed 2020 presidential bid, she wanted to fully repeal Trump’s tax cuts and crank the corporate rate back up to 35 percent. Now, she’s settling for 28 percent, more in line with President Joe Biden’s budget. But even at 28 percent, businesses would take a significant hit.
Republicans are expected to fight this tooth and nail. Harris might need Democrats to hold onto Congress if she has any hope of pushing this through. However, with Trump’s tax cuts set to expire at the end of 2025, a fierce battle is brewing in Congress over which parts to extend.
