Raising corporate tax is taking money from 401ks and pension funds. Everyone who owns stocks, raising taxes on corporations means lower profits, and lower share price.
Here is what happens when taxes get raised. The big corporations will lobby for special tax deductions and high earners will look for ways to not pay higher taxes. that results in less tax being collected.
Politicians need to stop pretending they care about debt. Even IF this resulted in bringing in more tax revenue, politicians will say "Well looky here, We collected 2 billion more then we thought! Now we can spent $10b more on a high speed train in California!"
Raising corporate tax is taking money from 401ks and pension funds. Everyone who owns stocks, raising taxes on corporations means lower profits, and lower share price.
Here is what happens when taxes get raised. The big corporations will lobby for special tax deductions and high earners will look for ways to not pay higher taxes. that results in less tax being collected.
Politicians need to stop pretending they care about debt. Even IF this resulted in bringing in more tax revenue, politicians will say "Well looky here, We collected 2 billion more then we thought! Now we can spent $10b more on a high speed train in California!"