Seth Meyers Examines the Benefits to the Wealthy in the Republican’s Tax Plan


2 thoughts on “Seth Meyers Examines the Benefits to the Wealthy in the Republican’s Tax Plan

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  1. This billionaire tax bailout is going to lead to class warfare once the Trump followers see how their taxes went up. This is the third time they’ve used this “trickle down” theory to give more money to the 1%. Without some type of legislation to make corporations reinvest in jobs and local production, there will be nothing trickling down.

    This tax legislation really raises the issue of corporate personhood as far as taxation. These corporate “persons” receive a lot of deductions that human persons are forbidden to take. Why is a corporation a person when influencing political campaigns, but not a person when being taxed?
    Malia, any idea why these two cases are different? Should the Supreme Court be looking at corporate personhood as far as tax liability?

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    1. aj,
      Corporate tax rates don’t really apply to persons. Persons who invest pay only capital gains tax when they sell their stock, and ordinary income if the corporation makes a distribution. Thus investors would rather defer the income and take the profit in the form of a higher value when they sell the stock. In my opinion its not the corporate tax rate that is significant, its the capital gains rate.

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