A corollary is that the true tax rate is zero when your taxees rebel and exit your domain.
“...a special tax on large companies...”
Don’t relocate to California. They’ve been doing that for years.
wy69
It similar to the stupid statement “tax the corporations rather than people”. Really, where does the corporate money come from to pay those higher taxes? It comes from customers who now face higher prices so the company can pay the higher taxes. Ultimately corporate taxes are paid by the customer.
Another dumb chant by the left and politicians: “The rich don’t pay their fair share!” Really? The top 10% of wage earner (the rich, income greater than $440,000/year) pay 72% of all taxes. The bottom 50% (less that $45,000/year) pay less than 3% of all taxes. You’re right, the rich don’t pay their fair share...they pay too much. After all, they are the ones who invest in the economy, create new jobs, and generate economic growth. Also, politicians wrote the tax code with loop holes so the rich would give them donation. Harris had 4 years to do something about taxes, but did nothing.
Interesting video. A little bit hard to understand (I couldn’t use fast playback due to his thick accent) but good info. Many of the rich of Europe have already relocated to America and the investment by European corporation into our country is really quite amazing!
When that portion of a nation’s population finally wakes up to the fact that government is the least efficient user of scarce resources and the private sector the most, government entities immediately go into self-preservation mode (capital controls, higher taxes, etc.) which always increases the stampede for the exit. The thought of becoming more efficient and effective is a thought that never seems to occur to them.
I noted his Hispanic wife was not there at the inauguration