Noun 839
@noun839.eth
Since that craziness is over... raising the Corporate Tax rate or "making them pay their fair share" is a hidden tax on consumers that leads to inflation. Taxes go into the cost of production. Do you think the companies are just going to be like, oh yea no big deal I'll just make less money or do you think they will raise the prices and hurt the consumer?
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Tayyab - d/acc
@tayyab
Correct. All tax payers I’ll increase prices. But there is an optimal amount of tax to fund public goods that is necessary. It is ok to argue the “how much” and “how to implement”.
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Saadiq
@saadiq
Disagree. Companies raise prices as much as they can independent of their tax situation. The constraint on them is if they have pricing power in their space. A tax on their inputs is a more direct contributor to raised prices because it would affect all players evenly. A tariff, for instance. Corp tax rate only affects their profits, right. So I think less direct contribution to prices.
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meta-david 💥| Building Scoop3
@metadavid
More nuance than that. Not always. TLDR is that it largely depends on how much competition there is in the market they’re operating in as well as elasticity for demand for their products.
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J Milles 🎩
@jmilles
Or tax the wealthy individuals…who can afford the accountants to continue to thrive. I agree these policies always end up hurting the people they are supposed to “help”.
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Stuart
@olystuart
If that's not the answer then how do we: - counter monetary inflation without austerity and meet peoples needs - redistribute wealth to solve wealth inequality - also why has the corporate tax rate been so much higher in successful times in our economic history as well as other countries that are doing well
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