The original point stands if corporations don’t forgo their profits. It results in cutting jobs and increased costs of essential goods and services. Corporations have gotten too big to solve inequality with simple wage hike mandates. Just look how they control grocery prices, for example.
We need to tax the fuck out of them and use the funds to socialize necessities like healthcare.
Taxing them further will have the same effect as forcing them to raise wages, they'll just shift their cost on the final product
That’s true for income tax on revenue, but increasing taxes on stock payouts, denying corporate deductions for $1M+ salaries, and increasing tax on stock buybacks are ways to reduce disproportionate pay.
It was part of Biden’s tax plan that I hope Harris will instate next year if she wins.
The original point stands if corporations don’t forgo their profits. It results in cutting jobs and increased costs of essential goods and services. Corporations have gotten too big to solve inequality with simple wage hike mandates. Just look how they control grocery prices, for example.
We need to tax the fuck out of them and use the funds to socialize necessities like healthcare.
Taxing them further will have the same effect as forcing them to raise wages, they'll just shift their cost on the final product
That’s true for income tax on revenue, but increasing taxes on stock payouts, denying corporate deductions for $1M+ salaries, and increasing tax on stock buybacks are ways to reduce disproportionate pay.
It was part of Biden’s tax plan that I hope Harris will instate next year if she wins.
https://home.treasury.gov/news/press-releases/jy2169