Shift tax burden to big companies and the wealthiest; reduce tax burden on small businesses and the low income.
The biggest companies can use multinational tax strategies. Most big tech companies have tax rates 10-20%. Small businesses can't domicile overseas or hold intellectual property in low tax jurisdictions or hire teams of $600/hour tax lawyers. They get stuck with the full statutory 35%.
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Quote de Tidybuoy
Raising the lowest incomes to keep up is not the answer as it just keeps pushing prices up and service levels down. I believe that we need to reduce wages at the top and I would do that by limited the maximum tax deductions for payroll.
Interesting idea. Limit expensible labor to salaries of less than $100 or $150k. But instead of putting more money in the consumer's hands, it puts more in the government's hands. How is that better? A major benefit of a higher minimum wage is that it increases consumer demand and the circulation of money.
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