As I have probably said before on this forum, Corporations do not pay taxes they collect them. If taxes go up so will prices or in the alternative expenses will be cut and eventually lead to job loss. When Corporations are given tax breaks I will concede that some of the savings may go to investors and high level executives, but some is also used to expand the business, add plant and equipment and hire additional employees. Not sure how a Presidential candidate can say they are going to tax the heck out of corporations and in the next breath say they are going to create a multi-million number of jobs. The math does not work. I understand that small businesses account for a number of the jobs, but in most instance small businesses are unable to provide a great wage and benefit package.
If it were me the first tax issue I would tackle is Social Security and Medicare, both of which are the most regressive taxes out there. One could argue sales taxes is also, but that is strictly based on consumption so while it hits lower income folks the hardest (percentage of income wise) at least everyone has to pay it.. Currently earnings above $132,900 are not subject to Social Security or Medicare taxation. I would uncap it so that all earned income regardless of the amount would be subject to both taxes, continuing the same rates and also requiring the employer's match. Imagine if some of the music stars, movie stars, sports stars, major corporate executives, etc. and there millions upon millions of dollars of earned income were to pay in a combined 15.3%. It might not correct the projected shortfall in the system at least it would extend the day of reckoning out some.
