Coming Soon... |
Friday, Apr 19 |
All Day | Tickets on Sale Now for "You're a Good Man, Charlie Brown!" |
Saturday, Apr 20 |
All Day | Tickets on Sale Now for "You're a Good Man, Charlie Brown!" |
All Day | The 7th Annual Crafty Chicks Spring Market |
All Day | Big Plans at Big Trees State Park for Earth Day! |
All Day | The Big Used XC Ski Sale Starts April 20th at Bear Valley Adventure Company! |
All Day | Huge Savings at Millworkz Inventory Reduction Sale Every Saturday! |
09:00 AM | Spring Cleaning Time at Shred Fest 2024 on April 20th |
01:00 PM | Celebration of Life for Robyn Victoria Williams |
05:00 PM | Fundraiser Dinner at VFW San Andreas |
Sunday, Apr 21 |
All Day | Tickets on Sale Now for "You're a Good Man, Charlie Brown!" |
All Day | Big Plans at Big Trees State Park for Earth Day! |
All Day | The Big Used XC Ski Sale Starts April 20th at Bear Valley Adventure Company! |
All Day | Our Sunday Edition with Local Features, Local Specials & More Every Sunday All Day Long! |
09:00 AM | Get Ready to Run in the 2024 Mr. Frog's Wild Run on April 21st. |
11:30 AM | The 11th Annual Mountain Ranch Chili Cook Off! |
Monday, Apr 22 |
All Day | The Big Used XC Ski Sale Starts April 20th at Bear Valley Adventure Company! |
Tuesday, Apr 23 |
All Day | The Big Used XC Ski Sale Starts April 20th at Bear Valley Adventure Company! |
Wednesday, Apr 24 |
All Day | The Big Used XC Ski Sale Starts April 20th at Bear Valley Adventure Company! |
Thursday, Apr 25 |
All Day | The Big Used XC Ski Sale Starts April 20th at Bear Valley Adventure Company! |
Friday, Apr 26 |
All Day | The Big Used XC Ski Sale Starts April 20th at Bear Valley Adventure Company! |
All Day | HCO Sledfest 2024 is April 26-28 at Bear Valley |
Saturday, Apr 27 |
All Day | Come Celebrate Calaveras’ Spring Wine Weekend |
All Day | The Big Used XC Ski Sale Starts April 20th at Bear Valley Adventure Company! |
All Day | HCO Sledfest 2024 is April 26-28 at Bear Valley |
All Day | Huge Savings at Millworkz Inventory Reduction Sale Every Saturday! |
Sunday, Apr 28 |
All Day | Come Celebrate Calaveras’ Spring Wine Weekend |
All Day | The Big Used XC Ski Sale Starts April 20th at Bear Valley Adventure Company! |
All Day | HCO Sledfest 2024 is April 26-28 at Bear Valley |
All Day | Our Sunday Edition with Local Features, Local Specials & More Every Sunday All Day Long! |
|
|
Posted by: thepinetree on 04/08/2021 02:29 PM
Updated by: thepinetree on 04/08/2021 02:29 PM
Expires: 01/01/2026 12:00 AM
:
Jeff Bezos Just Endorsed Corporate Tax Hikes. Here’s Why Amazon’s Support Should Be a Giant Red Flag
Atlanta, GA...The Biden administration and some (but not all) of their Democratic allies in Congress want to raise the corporate tax rate to 28 percent. They say this would help the working class and hurt Big Business, finally making corporations “pay their fair share.” But if that were true, giant corporations like Amazon wouldn’t be endorsing the change. Yet that’s exactly what Jeff Bezos just did.
“We support the Biden Administration’s focus on making bold investments in American infrastructure,” the Amazon CEO wrote in a public statement. "We recognize this investment will require concessions from all sides—both on the specifics of what’s included as well as how it gets paid for... we’re supportive of a rise in the corporate tax rate.” (Emphasis mine).
Amazon has also lobbied aggressively for other big-government policies like a $15 federal minimum wage. At first glance, this might seem like an endorsement of the policies: see, they wouldn’t be so bad for business after all. Yet it’s actually a giant red flag.
When Big Business comes together to collude with Big Government, it usually means everyday people are about to get ripped off.
When CEOs and politicians are able to agree on seemingly anti-business policies, it’s often because they know the government roadblocks instituted will entrench their market dominance and ultimately redound to the C Suite’s benefit. Amazon knows it can weather the storm of higher corporate taxes (right now it pays very little in corporate tax because it exploits tax breaks) but many of its smaller competitors cannot. Meanwhile, Bezos also knows that his company can afford armies of tax experts, accountants, and lawyers to exploit every loophole to minimize the damage; a luxury many less-dominant rivals won’t have.
And, most importantly, a wealth of economic research shows that workers and consumers really bear the majority of the costs of corporate taxes through lower wages and higher prices.
“The elementary fact is that ‘business’ does not and cannot pay taxes,” Nobel Prize-winning economist Milton Friedman once explained. “Only people can pay taxes. Corporate officials may sign the check, but the money that they forward to Internal Revenue comes from the corporation’s employees, customers or stockholders.”
More specifically, a study by the Tax Foundation found that Biden’s proposed corporate tax hike would shrink the overall size of the economy, reduce wages, and eliminate 159,000 jobs.
Of course, Bezos would hardly notice a blip in his bank account. The workers left unemployed would have a different experience.
Amazon is not truly altruistic or “woke.” The company knows that the costs of proposed corporate tax hikes would mostly fall on workers and hurt smaller retail competitors. Amazon just hopes that you don’t know that—and that Americans mistake its cronyism for altruism.
By Brad Polumbo
Brad Polumbo (@Brad_Polumbo) is a libertarian-conservative journalist and Opinion Editor at the Foundation for Economic Education.
|
Comments - Make a comment |
The comments are owned by the poster. We are not responsible for its content. We value free speech but remember this is a public forum and we hope that people would use common sense and decency. If you see an offensive comment please email us at news@thepinetree.net
|
What's Related |
These might interest you as well
Local News
Calendar
phpws Business Directory
Photo Albums
|
|
|