CORP. TAX CUT = GROWTH? Um, Not So Much
CORP. TAX CUT = GROWTH? Um, Not So Much — Contrary to popular conservative dogma, the Economic Policy Institute (EPI) has found no substantial correlation between corporate tax reductions and economic growth since 1947.
You know, cutting taxes for workers has not resulted in a greater wage either. Though it sure is a neat way to make people feel as though they have EARNED more for their labor.
I have a feeling it’s the same effect for corps.
In an economy where every dollar collected in tax is put right back into the economy and there is not an entity named “government’ pocketing any of it, cutting taxes to improve overall greater economic activity is just foolish, narrowly focused thinking. Cutting taxes becomes even more of a foolish thought when tax policy is being used as a means to promote equality (that is buffering the worst effect of capitalism: the ever greater consolidation of the means of production and it’s resultant profit at the expense of reducing the risk’s of living for humanity).
We should tax businesses, not people.
Let’s not lose sight of the fact that the actual rate of corporate taxation is irrelevant. Corporations
Sorry, but I’m in the hinter lands of New Zealand and having some difficulty with computing on the internet.
What I was noting is that the biggest corporations, the ones with all of the money, don’t actually pay taxes regardless of the rate. Fight for a change in that process rather than a fight over the exact rate that never gets paid.
We end to change both the process and the rate.