My message to Joe, Nancy, and the voters who would have us believe that taxing corporations heavier solves any problem.
Corporations do not pay taxes. The customers, clients, and users of the products and services provided by corporations pay those taxes.
In reality the Corporations function as the tax collecting agent for the government. They do this by adding the corporate tax into the price of their product. This adds yet another layer of bureaucracy to the system.
Where the client base is a series of corporations, the tax burden is kicked down the road. It accumulates until you, the end customer pays.
Ultimately only individual people, you and I, pay these taxes.
Corporations are deemed to be persons under law. All persons must pay income tax. But, corporations have special privileges, like eternal lifespan, exemption from serving jail time, and extra-low tax rates (in this country).
I'm not writing this for @dumasarok, but for the readers who are capable of assimilating new information.
Corporations do and should pay taxes. They constantly lobby congress and state legislatures for special considerations and privilege. They also take advantage of many public services which cost all other citizens money.. Those corporations want something for nothing. In other words, they are freeloaders.
Saying that corporations don't pay taxes because it's actually the customers who provide the money is like me saying that I don't pay taxes, my employer does because they give me wages, which I use to pay taxes.
The person or entity being taxed pays the tax. How they obtained the money to pay the tax is irrelevant.
Ok, but when they raise their prices due to taxes other companies that are more efficient can compete so your alleged point is moot.
The real issue with our tax system was abandoning the progressive tax system that made us financially strong from 1938 until 1980 when Reagan screwed it all up.
Corporations generally aren’t National entities making their tax status hard to pin down. Like Harley Davidson, not an American company.
We would be better served if we forced companies to be part of the nation in order to get them to pay their taxes.
The goal of corporations is to "maximise profit". Cutting their taxes increases profit. It does NOT result in reducing the price of the product.
Raising the tax, will tempt a corporation to "pass on" the cost, but that is where market competition steps in.
The first corporation to raise its prices loses customers. So provided the tax is not astronomically high, they will swallow the tax.
Corporations are not people, either … yet the Republican Court has ruled they are, and that they may feed unlimited campaign donations (taxes they should have paid) to the political party that will keep it that way..
Corporations are expected to pay a fraction of the profits they make to help support the social infrastructure that supports the people they profit from. When those being profited on can no longer afford to pay for the products or services of a Corporation - that corporation files for bankruptcy..
Joe & Nancy are free to ignore such BS. But they won’t … they’ll go after those having been allowed to ignore their obligation to the ‘American people’ while hiding behind the shield of a “Corporation,” or - the bald faced liars like trump, daring anyone to make him pay his share!
Raising corporate tax on corporate profit back to where it was before Trump cut it by more than 50% is only one of the Democrats' strategies to get wealthy Americans to pay their fair share.
*Note there was no corresponding decrease in prices in response to the corporate tax cut that would have supported the OP's argument.