The “fair share” that any group has to pay should have some basis other than our desire to take their wealth from them. If we made the rich pay the same percentage in taxes that they have of our country’s wealth, or that they receive of the total income earned, their taxes would actually be less than they pay today in California. We don’t need to engender class hostility to justify taxation, just the realization that taxes are necessary to help those who can’t help themselves, and we should collect that revenue in the way least damaging to economic growth. Democratic elected officials support increasing taxes on the wealthy, no matter the fact that 5% of all taxpayers pay more than 50% of all the individual income taxes in California. Republican legislators oppose any increase in taxes, even balking at a carbon tax, with the revenue used to help businesses and employees that are hurt by steps to reduce global warming.

Corporate Taxes

Corporations don’t pay taxes: consumers, employees, or stockholders do. If we tax stockholders, less investment will result. Sometimes in our economic cycle, we are awash in money for investment, so such a policy does little harm. At other times, we need to encourage investment and discourage consumption, so the tax should fall on consumers. The right answer depends on where we are economically. The two major parties, once more, are rigid. Democrats see no economic harm in increasing taxes on corporations, and punishing companies that go overseas to avoid high levels of business tax in California. Republicans are doctrinaire against increasing corporate taxes, even to pay off the deficit.