Consolidation is not good. I think the massive tax cut to corporations in 2017 is a big part to blame.
When corporate taxes are higher, they give their profits to their employees as a tax write off. When it’s lower, they pay the tax and use the cash to build up value for the shareholders. This includes corporate consolidation.
Remember when everybody was talking about corporations storing profits in offshore accounts waiting for tax rates to go down? Well Trump gave them that and they have brought that money back and used it to buy up their competition.
Honestly, small business owners should be at the forefront of complaining about this. The entire tax change made it harder for small businesses to compete with large businesses.
When corporate taxes are higher, they give their profits to their employees as a tax write off. When it’s lower, they pay the tax and use the cash to build up value for the shareholders. This includes corporate consolidation.
This.
Remember when everybody was talking about corporations storing profits in offshore accounts waiting for tax rates to go down? Well Trump have them that and they have brought that money back and used it to buy up their competition.
All the small business owners I knew supported Trump and Republicans. Similar to broke southern state people. Supporting a group of people that do not have their best interest in mind.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: [email protected]
No game suggestions, friend requests, surveys, or begging.
No Let’s Plays, streams, highlight reels/montages, random videos or shorts.
No off-topic posts/comments, within reason.
Use the original source, no clickbait titles, no duplicates.
(Submissions should be from the original source if possible, unless from paywalled or non-english sources.
If the title is clickbait or lacks context you may lightly edit the title.)
Consolidation is not good. I think the massive tax cut to corporations in 2017 is a big part to blame.
When corporate taxes are higher, they give their profits to their employees as a tax write off. When it’s lower, they pay the tax and use the cash to build up value for the shareholders. This includes corporate consolidation.
Remember when everybody was talking about corporations storing profits in offshore accounts waiting for tax rates to go down? Well Trump gave them that and they have brought that money back and used it to buy up their competition.
Honestly, small business owners should be at the forefront of complaining about this. The entire tax change made it harder for small businesses to compete with large businesses.
This.
Also this.
Small businesses don’t even seem to be a talking point anymore.
All the small business owners I knew supported Trump and Republicans. Similar to broke southern state people. Supporting a group of people that do not have their best interest in mind.