Honestly, corporate taxes don't make much sense. It would be much better if we reduced the corporate tax rate to 0% and made up the difference by increasing capital gains tax.
This is the most insane idea I've ever heard of. You do realize that capital gains are only assessed at time of sale of said asset right? So where do we make up the trillions in revenue? How does the govt operate when there is a bear market? I just don't understand why when taxes and economic principles are so simple on a macro level that people seem to get lost on how it all works.
Something that sounds crazy, but way less crazy than what you are floating, would be to have something like a 90% tax on corps with a 3 or 5 year deferment to allow the profits to be invested back into the company. Then, whatever the Corp couldn't figure out how to spend in useful ways would go towards hiring instead of layoffs, raises instead of a race to bottom. The shareholders like me who make money for doing nothing but placing my money there wouldn't make such a killing, but I would rather see this country have a booming middle class than continue the wealth inequality to the point where I can't leave my house to use my toys and defend my big house against raids. I know that sounds a bit hyperbolic but if we stay on the current trend lines at some point in the distant future that day will come. Reducing Corp taxes and eliminating the estate tax are the types of things to accelerate that as opposed to putting us back to a good economic equilibrium.
Something that sounds crazy, but way less crazy than what you are floating, would be to have something like a 90% tax on corps with a 3 or 5 year deferment to allow the profits to be invested back into the company. Then, whatever the Corp couldn't figure out how to spend in useful ways would go towards hiring instead of layoffs, raises instead of a race to bottom. The shareholders like me who make money for doing nothing but placing my money there wouldn't make such a killing, but I would rather see this country have a booming middle class than continue the wealth inequality to the point where I can't leave my house to use my toys and defend my big house against raids. I know that sounds a bit hyperbolic but if we stay on the current trend lines at some point in the distant future that day will come. Reducing Corp taxes and eliminating the estate tax are the types of things to accelerate that as opposed to putting us back to a good economic equilibrium.