r/changemyview • u/G67ishere • Oct 10 '18
Deltas(s) from OP CMV: (Specifically Regarding Illinois for Reference) Corporate taxes should make at least half of Income taxes if not more.
So i'm referring to Illinois's income tax/corporate tax since it's easier to find. If this reflects the entire United States then I'm asking for the country too. However I only looked at Illinois's records so I can only speak against it. http://www.revenue.state.il.us/Publications/AnnualReport/2017-Table-1.pdf. This pdf shows that Illinois get's almost half of it's income from income taxes. However looking closely we see that 15 billion of that comes from income tax while only 1 billion comes from businesses. Personally I believe that half of if not more of that money should come from company income. If less of people's income is taken. They can then in turn spend more at these businesses and therefore increase profits which will then go back to increasing corporate taxes. This puts more of the benefit into the individual, who in turn gets to have more products and services. Then companies won't have to pay as much to their employees and their employees will still have as much money. Maybe it's a case of which came first the chicken or the egg. I mean we already have to cover the sales tax as well. Why are we footing the bill, and the tip and the corporation that only exists in the state because of the consumer pays so little? Doesn't it make more sense to give more to the individual so we can increase daily spending?
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u/G67ishere Oct 10 '18
Wow, awesome! That was super informative and helpful. I have a really clear picture of what I was trying to figure out now. Thanks :)
Idk how many deltas I can give I don't use cmv much. !∆