Does rasising the corporate tax rate help or hurt?

[jasonelijah]

According to the non biased CBO raising the corporate tax rate will hurt workers by 20% and also hurt businesses? If this is true and you trust the CBO then why does Biden want to do it? Having known this now does that make you regret he's president? The CBO don't lie and it's non partisan.

[HappySkeptic]

Citation please?

An article about proposed tax increases:

https://www.forbes.com/sites/sarahhansen...40794239ac

I think Biden should push these through.

[jasonelijah]

https://www.cbo.gov/sites/default/files/...ence_1.pdf

[Brian37]

According to the non biased CBO raising the corporate tax rate will hurt workers by 20% and also hurt businesses? If this is true and you trust the CBO then why does Biden want to do it? Having known this now does that make you regret he's president? The CBO don't lie and it's non partisan.

Between 1945 and 1980 the effective tax rate at a couple of points on the top 1% was 90%. But basically 50% after tax cuts. The Reagan erra has  been fucking absurd.

[HappySkeptic]

You realize that is from 2011, and is a preliminary paper for discussion, not an official opinion of the CBO?

I haven't read the whole thing, but I see a reference a 2009 paper about how every percent of extra tax has such-and-such negative effect on the economy.

Those simple tropes take on a life of their own. Yes, higher taxes reduce some hiring and re-investment. However, corporations mostly funneled their 2017 tax reductions owners (through stock buybacks and increased cash). Not many really invested in anything, as one would expect when the economy was already going well.

[jasonelijah]

So do you trust the CBO that raisiing it is bad for workers and for the economy? Or is this one you disagree with the CBO on? And does this change your vote?

[Angrboda]

So do you trust the CBO that raisiing it is bad for workers and for the economy? Or is this one you disagree with the CBO on? And does this change your vote?

Do you not know how to read?

These papers are not subject to CBO’s formal review and editing processes. The analysis and conclusions expressed in them are those of the authors and should not be interpreted as those of the Congressional Budget Office.

- ibid.

[jasonelijah]

There's other articles about the cbo claiming its bad for workers. Even if you just as googgle it tells you why it's a bad idea,

[Angrboda]

There's other articles about the cbo claiming its bad for workers. Even if you just as googgle it tells you why it's a bad idea,

Then cite them.

[jasonelijah]

Just type into google "does raising the corporate tax work" and it says this at the top

Raising corporate income taxes lowers worker wages, which leads to increased unemployment. Using 1970-2007 data from the United States, a Tax Foundation study found that for every $1 increase in state and local corporate tax revenues, hourly wages can be expected to fall…

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Do corporate taxes get passed onto the consumer?


Owners and managers of corporations often assume, just as incorrectly, that the tax is simply passed along to consumers. This very vagueness about who pays the tax accounts for its continued popularity among politicians. The federal corporate income tax differs from the individual income tax in two major ways.



see just like that, it's fucking google broski

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Can anyone find any info on where the CBO stand on the corporate tax? I'm starting to doubt my own research.

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What does the Congressional Budget Office assume with respect to the tax incidence of corporate taxes? Consumers of the corporations' products bear the entire tax burden. Consumers of the corporations' products bear half the tax burden and the owners of capital bear half the tax burden.



SO there ya go, you trust my source now, it's just google.