Funny. Our government here in Australia is also trying to cut taxes for companies. They've achieved a first round of cuts for small-to-medium companies (up to $50 million p.a. turnover), but...
Funny. Our government here in Australia is also trying to cut taxes for companies. They've achieved a first round of cuts for small-to-medium companies (up to $50 million p.a. turnover), but they're having trouble getting a second round of cuts for larger businesses through Parliament.
They keep pointing to the recent business tax cuts in the USA to support their case that company tax cuts will lead to higher wages for workers. Most people already don't believe it, but it's nice to see some hard evidence that cutting company taxes doesn't magically lead to those companies paying more to their employees.
Trump's tax cut was never intended to help workers. If the Republicans were serious about tax relief for workers, they'd replace income taxes on wages and salaries with wealth taxes and taxes on...
Trump's tax cut was never intended to help workers. If the Republicans were serious about tax relief for workers, they'd replace income taxes on wages and salaries with wealth taxes and taxes on corporate revenues (not profits), put the burden of payroll taxes entirely on business, and abolish the self-employment tax.
But Republicans don't give a damn about ordinary Americans and haven't since the Eisenhower administration.
BTW: I know that putting the burden of payroll taxes on business will lead to businesses hiring fewer workers. I'm OK with that for the same reason I favor a $50 minimum wage. Being able to get others to work for you is a privilege, and it should be an expensive privilege. If we can't abolish wage slavery, we should at least make it as expensive as possible.
Build it yourself, take on partners who get an equal say and equal share of the revenue, or don't build it at all.
Funny. Our government here in Australia is also trying to cut taxes for companies. They've achieved a first round of cuts for small-to-medium companies (up to $50 million p.a. turnover), but they're having trouble getting a second round of cuts for larger businesses through Parliament.
They keep pointing to the recent business tax cuts in the USA to support their case that company tax cuts will lead to higher wages for workers. Most people already don't believe it, but it's nice to see some hard evidence that cutting company taxes doesn't magically lead to those companies paying more to their employees.
Yeah, it just makes overhead lower for companies and the higher ups put that in their pockets.
Trump's tax cut was never intended to help workers. If the Republicans were serious about tax relief for workers, they'd replace income taxes on wages and salaries with wealth taxes and taxes on corporate revenues (not profits), put the burden of payroll taxes entirely on business, and abolish the self-employment tax.
But Republicans don't give a damn about ordinary Americans and haven't since the Eisenhower administration.
BTW: I know that putting the burden of payroll taxes on business will lead to businesses hiring fewer workers. I'm OK with that for the same reason I favor a $50 minimum wage. Being able to get others to work for you is a privilege, and it should be an expensive privilege. If we can't abolish wage slavery, we should at least make it as expensive as possible.
Build it yourself, take on partners who get an equal say and equal share of the revenue, or don't build it at all.