It is all in an effort to drive businesses offshore to China.
Then why doesn’t the Chamber of Communists lobby hard to reduce that burden instead of fighting tooth and nail for amnesty?
Fools.
No need to worry. Check out the effective rates of the largest US corporations.
Taxes are for the little sheeple !
Whatever you tax you get less of,
and whatever you subsidize you get more of.
There is an optimum tax rate, for maximizing Government revenue. Beyond that rate, the drag on business is so great that it shrinks the total pie more than what the bigger cut makes.
We are well past that tax rate now (which is around 20%). The higher the rate goes past the point of optimum revenue, the more unnecessary damage is done to the overall economy.
Obama said that even if it reduced revenue to the Government, he supported higher taxes as a moral issue. The conclusion from that statement is that he considers wealth (also known as Capital) to be a bad thing.
I think the main thing that drives politicians to drive up tax rates is their simple greed to spend more money, but some leftists also want to use it as a weapon to destroy capitalism.
The second of the ten planks of The Communist Manifesto is a heavy and progressive income tax. The third plank is a 100% inheritance tax.