Perhaps not, except it will cost them sales when prices rise.
***And what did corporations do when they were flush with cash from not having to pay these phantom taxes?***
They pay 'gains' taxes on profits. Also, much spent on exploration, R & D, bribes, etc. ... and dividends to share owners.
Your comment sounds a bit like like class warfare. If a company makes too much free money I would imagine competition would jump in and compensate. Somehow it does not really concern me - and I am a pauper.
***As you know, some corporations pay much less than the now 21% rate. Some pay less than 10%, or even less***
General Electric paid nothing under the 0bama regime. That is obvious corporate croneyism, just like Solyndra, etc. We call that corruption and it should be prosecuted.
Raising taxes is not the solution to corruption - it only encourages it. Italy reveals a perfect example.
Like me, SP, you need to nurture more patience. e.g: Rome executed Jesus but He ended up conquering the Roman Empire. 😇
Good post.
Please try and understand what I am saying. The "Middle Class Tax Cut" didn't pan out for everyone. The tax bill was primarily aimed at cutting taxes for corporations. Mnuchin, Cohn, and Brady admitted this after the bill passed.
To make up for the lost revenue from giving corporations a huge (35% to 21%) rate cut, the GOP was forced to look for more revenue. SALT was a biggie, and estimated $1 Trillion bill, passed on to individuals and families. And there were other deductions that were made illegal.
This strategy hurt the Republicans big time in the last mid-terms. I said numerous times that we would lose the House if the bill passed, and we did (vote fraud also killed us).
That's all I am saying.