Yellen Will Ask Businesses to Embrace Corporate Tax Hike to Fund Infrastructure
17th May 2021
A reminder: Businesses don’t pay taxes — businesses merely collect taxes from their customers for the government. Like any cost, the cost of taxes is incorporated into the price of goods sold; corporations really don’t care one way or another, since it doesn’t come off of their bottom line.
‘Taxing business’ is merely another shuck-and-jive on the part of politicians to disguise the fact that they are actually increasing taxes on ordinary citizens. Such taxes are regressive, hitting low-income people more than high-income people (who are less affected by high prices). Governments are constantly looking for ways to pick taxpayers’ pockets without getting noticed, which is why VAT is so popular in Europe.