yes it's not working and hasn't for years as the wealth is being concentrated at the top and income inequality is at records.
No one said unregulated. It's not a binary topic.
The excess wealth from this difference in consumption is often invested, but we have seen more and more lately that the elites use that money to invest in themselves and maintaining their own positions. Corporations use more and more of their profits for stock buybacks to increase share prices and less in new training, technology, and innovation.
And in turn they donate huge sums to tax exempt PACs vs taxes. As the PACs promote their needs and prop up corporate tools playing politician. Are you saying PACs should be taxed?
And agree on the last part. For the most part they bought these politicians through said PACs.
And it's kinda full circle as the largest share holders in most fortune 500 are investment funds that are also most people's 401k and pension funds.
Tax cuts for corporations and the wealthiest Americans inevitably lower revenues and increase yearly deficits
Most corps are under ten people and main Street. When their rate is low they hire and pay more.
The big boys just offshore to avoid taxes.
And it's basic that if the corporate rate is higher than other countries, they move.
See Ireland and Panama