Should we go back to higher taxes on corporations as Biden and the Democrats want? 

Democrats want to raise taxes on corporations to what they were when Obama was President or maybe even more.  Tax the other guy always sounds good at first glance, does it not?   

Let’s rethink what was happening during the Obama years.  The US lost about 305,000 jobs through November 2016 ( and countless businesses moved offshore or to Mexico.   

Now the big question.  Who really pays the higher taxes on businesses?   

Say you are the CEO of a business and are in competition with many companies, both foreign and domestic.  If the increase in taxes would cause your product to cost more than one made in Mexico or another Country, then you cannot stay in business or you must leave the US.  That means that you, or someone like you, will lose their job.  Now those business taxes are no longer received, so some other businesses or people will have to compensate if the Government is to take in the same amount in taxes.   

Maybe the Government now tells the companies they must make the products for the same cost, which is what they do in Socialist Countries.  However, all the business expenses still have to be made and at some point, the business must cease and more jobs are lost.  That’s why you find scarcity in Communist Countries. 

However, let’s say that your company is super-efficient and sells at the lowest cost.  What are your choices?  You can either raise prices or cut staff.  However, because you are so efficient, the only option is to raise prices.  Of course, that means the person who is paying the taxes is you, the consumer.  

This is also true of the Walmart, Costco, and Target.  If they are taxed more, eventually their goods will be priced higher. 

So, in the end, higher taxes on businesses either result in higher prices you pay for products, loss of good jobs, or both.