So you cut social security tax when these big corporations no longer give good retirement benefits? Most people are going to have to use social security as their retirement and I think it's already looking to be low on funds.
I was talking about corporate tax. And if you give incentives for companies to have lower taxes they will take advantage of it. With execs making millions I'm sure they can figure it out.
Well fine, but that's how that works. Customers and employees pay all the tax. Corporations, just between the customers and employees. If you tax away the companies profits, that has to come from somewhere.... either lower wages, or higher prices, or less investment, which means fewer future jobs and wealth.
Either way, the money is coming from us the employees, or us the customers, or both.
All tax, effects either the customer or the employee.
The myth of the left, is that you can increase tax, and have it only effect "the company" as if the company is has this magic pile of cash. Or only effect the share holders, which it won't. Because if the share holders are not paid enough to justify their investment into the company, they'll tear the company apart and get their money back, and once again the employees are unemployed, and the customers end up paying more for products and services.
Walmart will likely hire and employ 100,000 people next year, because of their $13 billion in investment. New stores, and new distribution centers, as well as truck drivers and trucks. Not including the hundreds of construction projects employing workers.
Would they have employed more people if they had more of that profit not taxed away by the government? Very likely.
Would they have employed fewer people if they had even more profit taxed away by the government? Very likely.
Ultimately we pay the tax either way. You are never going to have any system by which the people running the business pay that tax. Every country that has tried that, has had the rich pack up their businesses, and leave. France, Venezuela, Argentina, California.... on and on and on, and those are just modern examples.
France's unemployment rate for people under 25 is over 25%. Are they better off with the wealthy not employing them at all, because they left?
If you increase social security tax, in order to shore up SS, that means lower wages. That's how that works. I'd rather have the money. I'd be much better off myself.