Not at all factual, see here: individual tax liability accounts for around 8% of GDP while corporate tax liability has fallen to 2%.
The only thing outsized here is us getting fucked because we don't have lobbyists representing us.
Not at all factual, see here: individual tax liability accounts for around 8% of GDP while corporate tax liability has fallen to 2%.
The only thing outsized here is us getting fucked because we don't have lobbyists representing us.
You are comparing apples and oranges. Corporations are taxed on net profit, if a company invests all its profit on growing the business then its creating jobs and goods/services, and they aren't taxed. If a company happily sits on a big pot of money it made that year, then yes they pay taxes. The distribution in companies favoring growth over profit could probably be explained by a few hypotheses, but I would argue inflation ravaging savings and the existence of corporate taxes being the key factors for this. This is among the incentive companies have to grow beyond any reasonable ability to efficiently allocate resources, sucking down the capital stock of society and pushing smaller competitors out, along with easy money policies and banks favoring the assets that large corporations accrue.
You could say, well fuck it, tax them on everything they make, that will directly correlate to higher consumer prices and a slowdown in economic activity, you had 1 foot amputated and now you shot yourself in the other. The answer is less government spending, a sound money standard that makes saving lucrative, and rolling back the regulations that insulate large companies from competition.
Also, since you didn't include anything on billionaires, here's this, the top 1% accrue ~20% of income and provide ~40% of tax revenue, the top 50% pay ~98% of taxes despite only making ~70% of income. This is one of the key tenants of communism according to Marx, a highly graded marginal tax system.