Tuesday, May 23, 2023 9:50:09 PM
The 35% tax rate was at best a chimera and at worst a red herring used by the corporate class to whine in front of Congress. Here's a sample of real tax rates paid by corporations under the Trump rules in 2021. And it's not just the corporate class that pays almost nothing. Our federal tax on investment income has averaged about 6% over the last decade or so. It's not difficult and it's perfectly legal. Corporations and the investor class need an AMT. How about 20%? Let's not pretend that the Bush or Trump tax cuts were anything more than a giveaway to the top 10%.
The stock market is a device for transferring money from the impatient to the patient. - WB
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