I think this rant is a little tired, but I do agree with one point you made, and it’s been something I’ve been thinking a lot about.
> Also that they tend to be well below personal rates these days plus this gap widening. Increasingly this tax burden needs to be picked up from citizens. I suspect this is a significant variable of the degrading working/middle class lifestyle.
I think that we should radically raise corporate tax rate on profits, and provide marginally zero tax on any income (up to a large limit, eg $500k) that isn’t capital gains. This would shift the focus of corporations from increasing profits and stock price and instead put the focus on paying employees more. It was also shift corporate focus less on stock price rises and more on dividend increases (capital gains vs income).
These two things seem like they’d provide a much more stable environment for workers. Paying employees more becomes the new tax write off. Employees benefit because they don’t worry about taxes and get paid more, and it reduced the economic benefit of keeping the money in the company instead.
> Also that they tend to be well below personal rates these days plus this gap widening. Increasingly this tax burden needs to be picked up from citizens. I suspect this is a significant variable of the degrading working/middle class lifestyle.
I think that we should radically raise corporate tax rate on profits, and provide marginally zero tax on any income (up to a large limit, eg $500k) that isn’t capital gains. This would shift the focus of corporations from increasing profits and stock price and instead put the focus on paying employees more. It was also shift corporate focus less on stock price rises and more on dividend increases (capital gains vs income).
These two things seem like they’d provide a much more stable environment for workers. Paying employees more becomes the new tax write off. Employees benefit because they don’t worry about taxes and get paid more, and it reduced the economic benefit of keeping the money in the company instead.