First, corporations do not pay any corporate tax — individuals do. That is because companies pass on their costs. Some of the tax is paid by consumers, who pay higher prices. Company employees pay some of the tax through lower wages. And investors’ retirement accounts pay some of the tax through lower returns. ...Read all!
"The reporting was not just based on bad information — it was intentionally false," Kerner said. "I know this because I offered to provide my insight into Palm Beach County's vaccination efforts and 60 minutes declined. They know that the Governor came to Palm Beach County and met with me and the County Administrator and we asked to expand the state's partnership with Publix to Palm Beach County.
In the lead-up to his question, Tapper specifically referred to a recent Wall Street Journal editorial that asserted the taxes would "hit the middle class hard — in the value of their 401(k)s, the size of their pay packets, and what they pay for goods and services." He added that the U.S. Chamber of Commerce called the tax increases "dangerously misguided."
To pay for the massive spending package — which goes far beyond funding highways, bridges, and roads to finance a laundry list of progressive political priorities — the administration has proposed the largest tax hike in almost three decades. One of the major changes getting media attention is a proposed increase of the corporate tax rate from 21% to 28%.
