Comment: Corporate Tax = Tax on Poor

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Corporate Tax = Tax on Poor

The corporate tax is inherently a regressive tax structure that targets the poor. If you think about it, corporations are going to attempt to meet their profit and revenue estimates as best they can. To do so they will either raise the price on goods to achieve a certain profit or cut costs in a certain way to make that profit. The later (current practice) could be done via the tax system, however, only with huge corporations that can afford it. So it is inherently unfair to less wealthy corporations (thus hitting the poor). If we cut out the loopholes it creates an equal platform of high taxes giving incentives to raise the price of goods as this would not hurt competitive advantage because everyone is doing it. Sadly, it would hurt the poor and middle class as they are the largest consumers of goods. So if 5 people bought an iphone, 1 would be rich, 1 upper middle, and 3 middle or poor. The price for the iphone is equal to all thus the tax passed down to the consumer would have a greater impact on the poor.

Those that think the CEO is going to pay the tax out of pocket are insane. Those that think the quarterly dividend will go down are either wrong or don't understand that the stock is mostly owned by people's 401k, IRA, or pension fund...not the rich. So yet again it hurts the poor and middle class.

I find it hilarious that liberals want to make the rate higher when it obviously hurts the middle class and poor the most. Anyone who has looked at the tax structure knows it is almost exclusively a transfer tax from rich to poor.

In short, the corporate tax and all business taxes should be 0% on all domestic sales. Foreign sales from the US should be taxed but that's a different discussion.

And if you must make the rich pay more taxes you should do so at the individual level where it actually doesn't transfer to the poor.