The budget passed by the House cuts business taxes. More specifically, I understand that the Business Profits Tax will be reduced from 7.7% to 7.6% and the Business Enterprise Tax will be reduced from .6% to 0.55%.
My question is WHY.
Why at the very time that big woke corporations are working with the Democrat Party to destroy the American system are we cutting their taxes? The most recent example:
The big, woke corporations are also pushing vaccine passports and critical race theory. And they fund BLM and other Leftist groups and causes. They are anything but nonpartisan entities unconcerned with politics or cultural issues. They are … as a practical matter … extensions of the Democrat Party.
So why are we cutting their taxes?
Don’t tell me it’s to allow us to cut taxes for non-woke small businesses. That could be accomplished by leaving tax rates alone and raising the filing threshold. As the following information from the DRA demonstrates, the benefit of rate cuts will flow disproportionately to a relatively few large corporations:
And don’t tell me that not cutting taxes for the big, woke corporations would be cutting off the nose to spite the face (for you millennials, that means a needlessly self-destructive overreaction). No big, woke corporation is either going to relocate to or expand operations in New Hampshire … or leave or cut back operations in New Hampshire … over a .1% rate cut. The big, woke corporations are run by millennials who were indoctrinated in college and graduate school by Woodstock radicals and the academic progeny of Woodstock radicals. Being woke and more importantly forcing the non-woke to be woke is as important … or more important … than maximizing the bottom line.
It is far more likely that the majority of the business tax cuts will end up as campaign contributions to the Democrat Party or to fund BLM or a “climate change” initiative than it is they will be invested in New Hampshire.