Democrats have won the presidency and our liberal left-wing is already bellowing for hiking corporate taxation, again. These governing officers are working to sell you the fallacious belief that tax on our corporations is a tax on the 1%.

“It’s honest, it’s fair, it’s fiscally responsible, and it pays for what we need,” declared Biden from the White House, as reported in a NY Times article. No, it is not honest, it is not fair, and it is not responsible, and here is why…

The left-wing thinks they can con you into believing this whopper by throwing elitist poetry at you: professors, economics, research, and much, much more. This is just Ivy League propaganda meant to deceive and warp your reality.

The falsehood they tell is that taxation of corporations is the taxation of the wealthy. Again, falsehood! The income and wealth of people can be taxed, but not by corporate income tax. Taxing the business simply adds expenses that will be passed down to each of us.

Tax on a corporation is a pre-tax on you, the consumer.

The Times article reported that FedEx CEO Frederick Smith was made a remarkably rich person when no corporate income tax was paid in 2020. Neither Smith nor any other FedEx officer had their pay cut when the company tax increased.

If a company decides to raise product prices, the charge passes to the consumer – we pay for left-wing aspirations. If a company decides not to raise prices the tax bill is paid by employees by reduced hours or layoff – we pay for democrat aspirations.

“The biggest tax boon for the wealthy has been the sharp fall in the corporate tax rate,” wrote David Leonhardt. If only a reporter writing about business had experience in business.

Later in the article Leonhardt writes, “Corporate taxes are such an important part of the overall taxes paid by the wealthy because much of their holdings tend to be stocks.”

Sounds good, until you consider the fact that millions of people own stock. Employees own stock, family’s own stocks, and millions of people base their retirements on the performance of stocks.  A company’s profit is impacted by taxes, so high taxes will have a proportional impact upon stock performance – stocks owned by employees, families, and retirees.

Leonhardt wrote about Republican criticism of Biden’s tax plan:

“But one part of the criticism is pretty clearly inconsistent with the facts: The long-term decline in corporate taxes doesn’t seem to have provided much of a benefit for most American families.”

Now that is a blatant misrepresentation of the facts. Decreased company taxes mean the company is more profitable, and that means lower costs for consumers.

Biden’s plan to only tax those making over $400,000 will make his multi-trillion dollar ‘infrastructure’ plan dreadfully under-funded, compelling the printing of more money and increasing inflation, or borrowing more money and rocketing our already humiliatingly large national debt.

Democrats plot to increase corporate tax is just a slinky way to tax America, putting the support of our country on the shoulders of the poorest.