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this post was submitted on 17 Dec 2023
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Corporate taxes are a regressive tax on the poor. There's no benefit to taxing a business instead of people directly, and serious harm caused.
Taxing Amazon doesn't hurt Jeff Bezos. It just makes products more expensive for people that already struggle to afford them. It doesn't even effect Amazon's profit margin.
It's the structure of taxing that is the problem. If we tax their holdings or assets, tax the fuck out of their stocks exchanges. Force business to do business and make hording too expensive. Companies with billions in cash sitting in offshore bank accounts is disgusting and should be abolished.
This is how businesses grow, though. Having cash on hand is extremely important, and the amount necessary scales with the size of the business. It's effectively overhead.
All of these ideas make things more expensive for poor people for no reason.
I don't think you understand how much money big corporations hoard. Investment isn't what I am talking about. Pure cash holdings, it's really not normally done like this.
I literally worked for a fortune 100 company. I know exactly how much, because they report on it internally, especially during big shit like COVID.
There's nothing wrong with a company having money in the bank. That's an extremely good thing, especially for financial and tech companies.
I don't know why people hate companies making money at all. If individual people are making more money than is good for society, tax then. If Jeff Bezos owning Amazon pisses you off, carve you off a slice. No issue there.
Taxing companies makes the lives of poor people harder, so I'm against that.