Joe Biden’s budget calls for lots of new spending and lots of new taxes. One proposal is to increase the corporate income tax from 21% to 28%. David Henderson calls this one of the worst tax proposals. He (and every other economist) knows that corporations are just a legal fiction and that ALL taxes are ultimately borne by people. Corparations are just the check writers of money that would have otherwise been in the pockets of employees, customers, shareholders, suppliers, and everyone else. A whole lot of the new taxes would come from people making less than $400,000.
George likes the CAT
George likes the CAT
George likes the CAT
Joe Biden’s budget calls for lots of new spending and lots of new taxes. One proposal is to increase the corporate income tax from 21% to 28%. David Henderson calls this one of the worst tax proposals. He (and every other economist) knows that corporations are just a legal fiction and that ALL taxes are ultimately borne by people. Corparations are just the check writers of money that would have otherwise been in the pockets of employees, customers, shareholders, suppliers, and everyone else. A whole lot of the new taxes would come from people making less than $400,000.