Warren and Sanders are picking a big fight with Amazon.com over its supposed low level of income tax payments to their government. The two senators are fighting, along with the majority of their Leftist colleagues, to raise the tax rate on big companies, so they will “pay their fair share” into government coffers.
However, basic economics states that Corporations Do Not Pay Taxes.
Their Customers and Employees Do. Taxes are an Expense to any corporation, but instead of “paying their fair share”, all corporations pass along that tax expense to their Employees (in reduced wages) and their Customers (in higher prices for goods and services). The Senators seem to have lost sight of that basic law of economics, just so they can tweet about how they are fighting for the little guy by making those evil corporations pay.
Also, remember that “Fight for $15” that wants to increase the minimum wage to $15 per hour? That’s just another expense for any company, and it usually results in higher prices for customers, and lost jobs when a business cannot pass the higher cost on to its customers. How would you like to buy a $10 Big Mac? Or a $3.00 Hershey bar? That’s what you can expect with a high minimum wage.
So maybe Warren and Sanders need to get Thomas Sowell’s excellent book, Basic Economics, and read up on how corporations pay taxes.