Yet another perfect example of ‘political misdirection’, if you are feeling charitable, liberal lies if not. Government taxes banks, and user fees go up. The “business tax” is always passed directly to consumers as a price increase or fee. Obviously this means there no such thing as a “business tax”, and never has been.
As the cost of doing business goes up so does the price of the good or service sold to compensate. Look at your own life as an example. Many of us are selling items on craigslist or ebay. If item A cost you $5 and you can ship it for free, you'll charge $6 to make selling worthwhile. If shipping is $5 you'll now charge $11. The price got passed directly to the consumer.
Politicians can only run the taxes, and consequently prices, up to the point where the business or industry is no longer competitive. If the buyer says Item A is only worth $8 and you need $5 to buy another A and $5 to ship it, you won't sell any more item A. Taxes are always a burden on the economy. They should be viewed as a necessary evil for this reason, and be as limited as feasible.
At that point either the business attempts to reduce cost, for example jobs moving offshore, or the company goes out of business because we consumers can no longer afford the product. The buyer will have to look for something else or do without. The workers will become unemployed.
Everyone loses except the politicians who get reelected on anti business platforms. Americans lose jobs, choice, and standard of living.
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