During the golden age of American economy, corporate tax rates were sometimes as high as 90%. This resulted in corporations giving back to their employees or investing in research in order to further their products. This allowed for the basic worker to pay their bills working just one “menial” job. CEOs and head of corps made a lot of money, but the gap was much smaller between exec and grunt.
Now, because corporations pay little to no tax, the profit sharing goes straight to the execs and shareholders.
I wouldn’t go around just broadcasting my complete lack of knowledge of the financial or business world like that, but that’s just me.
Where am I wrong? Genuinely curious.
During the golden age of American economy, corporate tax rates were sometimes as high as 90%. This resulted in corporations giving back to their employees or investing in research in order to further their products. This allowed for the basic worker to pay their bills working just one “menial” job. CEOs and head of corps made a lot of money, but the gap was much smaller between exec and grunt.
Now, because corporations pay little to no tax, the profit sharing goes straight to the execs and shareholders.