Kamala Harris’ Plan To Hike Corporate Income Taxes Would Fall on All Americans
“higher corporate taxes are passed along to consumers, employees, and investors in the form of high prices, lower wages, and lower investment returns. If you buy things, have a job, or save for retirement, higher corporate income taxes will fall on you”
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“Saying that tariffs penalize only importers is almost exactly like saying that a corporate income tax affects only corporations. Both are deliberately myopic attempts to ignore the consequences of these policies. And in both cases, the candidates are assuring voters that someone else will pay the cost of these tax hikes—wealthy corporations or China—despite a well-established track record showing that both forms of taxes are passed along to consumers and workers in various ways.
You can try to tax corporations and you can try to tax imports, but all taxes are paid by people in the end—including lots of people who make less than $400,000 annually.”
https://reason.com/2024/08/26/kamala-harris-plan-to-hike-corporate-income-taxes-would-fall-on-all-americans/