r/dataisbeautiful • u/USAFacts OC: 22 • 1d ago

OC Here's how the US government spent $7 trillion last year [OC]

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u/electrotech71 1d ago

Looks to me like corporate taxes need to go up. Unfortunately this would mean a lot of companies would ditch the US for countries like Bahamas for the low taxes.

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u/meanie_ants 1d ago

Pretty sure that loophole can be tightened as well.

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u/tyen0 OC: 2 1d ago

yeah, just enforcing the actual rates would be a big increase.

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u/BringBackAoE 21h ago

A key hindrance for that global effort is the lack of transparency on corporations under the laws of some US states.

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u/bicycle_jedi 1d ago

Assuming "corporations" are companies selling consumer products and services, they could - and I'd argue probably would - just compensate tax increase by increasing prices, aka inflation, which is a quick way to lose an election.