The finance industry, the biggest beneficiary of corporate tax cuts, is expected to take in $250 billion from the corporate income tax cut alone over next decade, an amount that could fund 300,000 elementary school teachers or 6,000 teachers per state for 10 years.
High taxes on the rich, cheerleaders for grand fortune tell us, kill the entrepreneurial spirit. What does history tell us?
The orthodoxy that dominates today’s Republican Party — and the ranks of “business-friendly” Democrats — rests on a simple approach to economic policy. Let’s be nice, this orthodoxy holds, to rich people. Let’s be particularly nice at tax time. Let’s keep taxes on rich people, conservatives advise us, as low as possible. High taxes on high