Co-host of “The Big Money Show” on Fox Business Taylor Riggs joins Fox Across America With guest host Paul Gleiser to give her take on some of the likely negative consequences of Vice President Kamala Harris’ plan to raise the corporate tax rate.
“There is a narrative from the Democrats that they want to raise corporate taxes to 28%. We heard from former President Trump yesterday in Savannah, Georgia, how he wants to cut it to 15%. And the Democrats say they want to raise corporate taxes because corporations aren’t paying their fair share. Right? They’re evil, greedy corporations who are price gouging, who aren’t paying you well. But my problem is, if you raise the corporate tax to 28%, I don’t think small businesses are exempt from that either. So everyone will pay the price for that, including the mom and pop shop. And we saw during the Obama years where the corporations, the big ones, the evil, greedy corporations, as the left likes to call them, are smart enough and have the smart lawyers and the ability to then go abroad and just do an inversion. I’ll just reincorporate in Ireland where my tax rates are a whole lot less. The small businesses that are left here paying the higher tax rate don’t have the ability to do that. So Trump yesterday in the speech really talked about the lack of inversions, bring the companies back here, and we can do that if we get that tax rate down. And guess what? They’re not going to just take all the money for themselves. They might see an increase in earnings, which then increases the stock price, which then, guess what, increases your wealth because you own the stock price in your 401K in your pension. But they too also will pass those costs, the cost savings, the winnings on to you. They’ll hire you, they’ll invest in you, they will give you a better wage. We’ve seen it happen before.”
To hear what else she had to say to Paul, listen to the podcast!
