I keep hearing from Republicans that eliminating tax breaks and loopholes for corporations will cut jobs. The truth is that corporations are experiencing huge profits, and are not hiring. I did a quick and dirty chart over at Fred to illustrate this:
if I had the time I’d look into sector breakdowns and who is currently enjoying these tax loopholes – maybe someone else wants to do it?
Here’s another way of looking at it:
The profits are also not being passed on to employees: The long-term perspective below shows the degree to which the working man is currently getting the shaft:
(These later two charts are via)
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