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Comment by merpnderp | Hacker News Reader

"essentially small businesses and lower/middle income folks will pick up the slack on the missing revenue"

This is objectively untrue. The wealthiest taxpayers, who overwhelmingly make their money off of investments in companies like Amazon, pay nearly all of federal taxes. Just because Amazon doesn't pay taxes doesn't mean the people profiting off Amazon aren't paying taxes. A big reason why corporate taxes are dumb, since the money either grows the business or goes to individuals who pay taxes.

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This is objectively untrue. The wealthiest corporations and people overwhelmingly pay the LEAST share of taxes.

Your shifting of the playing field smells like an excuse.

1) Whereas the federal budget has not been reduced.

2) Whereas the large monopolies and billionaires pay less (see: the $1.5 trillion tax cut for the top, and how it's hoarded rather than invested) tax

therefore we are compensating for Amazon and Netflix etc paying less tax.

Corporate taxes should grow with the size of the corporation. We should encourage small businesses as they spur innovation, mostly fail, and are the backbone of a stable economy, vs slave labor for globalized zombie corps like Amazon.

https://www.forbes.com/sites/teresaghilarducci/2018/09/28/wh...

https://www.cnbc.com/2018/06/20/now-we-know-how-major-corpor...

by all accounts, the opposite of an economic "pump" is when you give a tax cut to the already filthy rich.

The tax base has been shifted to the middle and lower class. Plain and simple.

CBO and IRS reports on taxes show the richest pay the vast majority of Federal taxes, and a significantly higher rate than the middle class and poor. Care to cite otherwise?

Here’s a summary of CBO data [1]. IRS also posts much more detailed tax stats with the same results.

[1] https://www.taxpolicycenter.org/statistics/historical-averag...

35% of trillions is still trilliions. 10% of 10k is difference between eating everyday and not. The marginal utility of money is negative past the first 10M per capita, if not less.

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