Why do people think that taxing Big Oil and other Big companies more is a good idea?
March 12010
If you tax oil the oil companies will pass that tax on to the consumer raising gas prices. If you tax other companies more they also will pass that tax on to you, the consumer, making everything more expensive.
Also, raising taxes cost companies money which will make them shy away from hiring new employees and/or giving raises to current employees.
Do people just want the rich to PAY regardless of what that costs the average American?
It’s because the Leaders those people look to, are fools. What you said is spot on. ALSO when you tax them their profit on the books will be down creating less wealth for the company on the books making the dividend payments, payments to the stocks value go down or stay the same. That is making the investment in that company that you have NOT A GOOD INVESTMENT, forcing you to sell off, so that you can make money elsewhere. That forces the company to liquidate assets or borrow to cover the sell off making the company worth less and so on and so forth creating a downward spiral in their value. Many companies are experiencing this right now as reflected in the market. It is whats happening now. The market is below 8k from almost 15k. People don’t want to pay the increased taxes soon after jan 20th so they are swiftly reorganizing their portfolios.