LETTER: Biden corporate tax hikes will hit consumers
People pay taxes; corporations do not. In all my years developing yearly business plans, I never was allowed to produce a plan that called for my corporation to make less money than the year before. If taxes go up and the threshold to make money was reduced, then we had to come up with ways to make more money despite that issue. Usually it would be raising prices and delivering less. So the consumer would end up with higher prices for a more inferior product.
There certainly were other strategies — such as leaving where you are to find a better business climate — but outside of saying you were going to make a lot more sales, this was the go to. The customer paid more, the customer got less, and that money that is made from the customer gets passed back to our government to barely assist in paying off our fast-growing debt. Corporations pay nothing.