Essentially the purpose of tax breaks for big business is to bolster their corporate profits. These extra profits will be put to work immediately in re-investment into capital, hiring more employees or raises for existing employees….that is what we are told but is it the practice?
I say no, look at the recent stock market rally over the past year and the corporate earnings also. Profits are up across the board. CEOs are getting bigger and bigger bonuses. Where are the jobs? If Big Profits=hiring and jobs I don’t see it.
Tax breaks stay at the top, they are given as bonuses to CEOs and larger dividends to stockholders.
The places that need tax relief are at the ground level. The people who are working on the floor. Our property taxes increase, while big corporate business get away with paying relatively little or nothing at all.
The middle class is subsidizing the rich and the poor. We are subsidizing the working poor because some irresponsible corporations do not want to reward their employees for their labor.
The small businesses are feeling the same pressure as the working family. Small businesses get little tax relief if they get any at all.
Fees are another “tax” that attacks only the working family. While fees are felt by all people, businesses can write them off as an expense but the working family does not have that luxury.
I say, tax relief for the middle class and wage increases for employees bolster profits and job growth. The more people earn the more they will spend in the local economy.
High demand for products or services will “force” a company to either pay current employees overtime or hire more employees. Demand based economic policies is what this state and country needs.
What do you think?