It pains me to see city governments struggling to eliminate the homeless crisis when it is caused by the failure of our federal government to provide society with favorable economic conditions needed to improve the well-being of everyone. The well-being of society has worsened every time the GOP cut corporate tax rates. When Dwight Eisenhower was president, the (top) tax rate was 93%, and America had the fastest-growing middle-class with virtually everyone having A JOB. It has now been nibbled down to 28%.
Higher corporate tax rates are needed to stimulate the economy and here’s why:
FACT: Corporations pay taxes on PROFITS ONLY, and when rates are high, they tend to look for tax write-offs. They then increase research and development and promote corporate growth. Money is spent on labor, which promotes job growth that gives society the security and well-being that it deserves for a happier and healthier life.