There are lots of reasons to tax corporations: as a check on their power, to help pay for infrastructure, as a wealth tax. But the biggest reason economists cite for why they've stuck around is that everyday people think companies should have to pay them too.
# Stuff You Should Know: Corporate Income Tax
Josh and Chuck dive deep into the surprisingly nuanced world of corporate income tax, exploring why it's way more complicated than it seems on the surface. They trace the history of corporate taxation in America from 1909 to today, examining how rates have plummeted from a 1960s peak of 53% down to just 21% after 2017, and explaining why big corporations like Amazon and Apple have become infamous for paying little to no federal taxes. The episode breaks down the heated debate between economists and policymakers—some arguing that corporate taxes stifle business and innovation while others insist corporations should pay their fair share for using public infrastructure—ultimately showing that nobody really agrees on who actually bears the burden of these taxes or whether they actually work as intended.
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