This is what trickle-down tax breaks have done for Google, Amazon, Meta, and Tesla.
Sundar Pichai, Jeff Bezos, Mark Zuckerberg, and Elon Musk are all billions of dollars richer.
And we have billions less for healthcare, schools, food assistance, childcare, and more.
Source: Conscious-Quarter423
10 Comments
How strange that all those company’s CEOs were all sitting behind Tack at the inauguration.
Don’t worry. Middle class boomers will still be able to live in comfort. That’s all that matters.
Before Reagan the rate was 78%
Israel will be very upset when they see this
Piss on you economics. The people who need money the most voted for that shit.
That sucks…because executives take most of the advantage through bonuses based on performance.
This is why we can’t have nice things
ngl this is a strong take, but it’s a bit one-sided
yeah tech founders got insanely rich… no debate there
but their wealth is mostly from stock growth, not just tax breaks
also those companies created huge value + jobs along the way
that said, tax policy definitely favors capital over wages
“billions less for services” is more complicated than just tech taxes
feels like real issue is how gains are taxed vs income
people agree on the problem, just disagree on the cause/solution
The graph assumes the behavior (financial decisions) would remain the same under all of the tax brackets. I assure you, the companies would spend less, hire less, constrain or reduce wages and benefits, etc., to compensate for higher tax brackets.
The breaks down to almost $600 per American taxpayer. $600 is roughly 5% of the average American total tax bill.
Republicans tax cuts transfer 5% of your money to
just three companies. I shudder to think how much we are paying for all corporations.
Republican policy is a wealth transfer from the bottom to the top and there’s no other way to see it.