Tag: State

Should the Sanders campaign work to generate support in states by showcasing how corporations have benefited from state tax policies over the past few decades? For Republicans and corporate Democrats, shift the tax burden at the state level to workers is a win-win. Corporations pay less, and the public becomes sensitized to high taxes and more receptive to pro-tax cut propaganda. Joe Biden and Republicans likes to talk about states rights when it suites them. Maybe it is time to talk corporate taxes at the state level too. As indicated in the 2016 link, "In 36 of 46 states collecting corporate income taxes, net corporate revenues grew at a slower rate than total revenue over the past 20 years." Some of the more extreme examples … In Ohio, corporate tax revenues dropped 81% versus a 64% overall increase. In Michigan, it was a 72% drop in corporate taxes versus a 56% overall increase. In Louisiana, it was a 54% drop in corporate taxes versus a 68% overall increase. So regular people are seeing their taxes going up while corporations, and their investors are going to be reaping the rewards … unless the corporations are paying their employees well, giving bonuses, etc. https://www.governing.com/topics/finance/gov-disappearing-corporate-taxes.html