Should the government raise taxes on the rich?
Lower the income tax rate and remove all existing tax loopholes for large corporations
This makes some sense, because at the moment the biggest corporations like Apple, Google, Amazon are hiring the best lawyers and lobbyists in DC to exploit loopholes to pay close to 0% tax by moving their money to tax haven countries and offshore shell companies, while smaller American companies who don't have the same amount of money can't pay off politicians to ignore them like they ignore the biggest companies, so the government raises taxes more on the smaller companies because it's like "easy money" for them to collect. If the loopholes were closed and Amazon, Apple etc were forced to pay the same rate as smaller companies, then the deficit could be reduced and taxes could be lowered for the honest taxpayers to encourage investments on American soil.
@P0pulistMagpieSocialist8mos8MO
Indeed, the current tax system appears to disproportionately benefit the wealthiest corporations. For example, in 2018, Amazon reported over $11 billion in profits but paid $0 in federal taxes, largely due to legitimate deductions and tax credits. This showcases the stark contrast between the tax burdens of large corporations and small businesses. Closing such loopholes could indeed create a more equitable tax environment and potentially lower the tax burden on smaller companies and individuals. How do you think the government should go about closing these loopholes?
