The Biden administration and some (but not all) of their Democratic allies in Congress want to raise the corporate tax rate to 28 percent. They say this would help the working class and hurt Big Business, finally making corporations “pay their fair share.” But if that were true, giant corporations like Amazon wouldn’t be endorsing the change.
Article by Brad Polumbo from FEE.
Yet that’s exactly what Jeff Bezos just did.
— Amazon News (@amazonnews) April 6, 2021
“We support the Biden Administration’s focus on making bold investments in American infrastructure,” the Amazon CEO wrote in a public statement. “We recognize this investment will require concessions from all sides—both on the specifics of what’s included as well as how it gets paid for… we’re supportive of a rise in the corporate tax rate.” (Emphasis mine).
Amazon has also lobbied aggressively for other big-government policies like a $15 federal minimum wage. At first glance, this might seem like an endorsement of the policies: see, they wouldn’t be so bad for business after all. Yet it’s actually a giant red flag.
When Big Business comes together to collude with Big Government, it usually means everyday people are about to get ripped off.
When CEOs and politicians are able to agree on seemingly anti-business policies, it’s often because they know the government roadblocks instituted will entrench their market dominance and ultimately redound to the C Suite’s benefit. Amazon knows it can weather the storm of higher corporate taxes (right now it pays very little in corporate tax because it exploits tax breaks) but many of its smaller competitors cannot. Meanwhile, Bezos also knows that his company can afford armies of tax experts, accountants, and lawyers to exploit every loophole to minimize the damage; a luxury many less-dominant rivals won’t have.
And, most importantly, a wealth of economic research shows that workers and consumers really bear the majority of the costs of corporate taxes through lower wages and higher prices.
“The elementary fact is that ‘business’ does not and cannot pay taxes,” Nobel Prize-winning economist Milton Friedman once explained. “Only people can pay taxes. Corporate officials may sign the check, but the money that they forward to Internal Revenue comes from the corporation’s employees, customers or stockholders.”
More specifically, a study by the Tax Foundation found that Biden’s proposed corporate tax hike would shrink the overall size of the economy, reduce wages, and eliminate 159,000 jobs.
Of course, Bezos would hardly notice a blip in his bank account. The workers left unemployed would have a different experience.
Amazon is not truly altruistic or “woke.” The company knows that the costs of proposed corporate tax hikes would mostly fall on workers and hurt smaller retail competitors. Amazon just hopes that you don’t know that—and that Americans mistake its cronyism for altruism.
‘The Purge’ by Big Tech targets conservatives, including us
Just when we thought the Covid-19 lockdowns were ending and our ability to stay afloat was improving, censorship reared its ugly head.
For the last few months, NOQ Report has appealed to our readers for assistance in staying afloat through Covid-19 lockdowns. The downturn in the economy has limited our ability to generate proper ad revenue just as our traffic was skyrocketing. We had our first sustained stretch of three months with over a million visitors in November, December, and January, but February saw a dip.
It wasn’t just the shortened month. We expected that. We also expected the continuation of dropping traffic from “woke” Big Tech companies like Google, Facebook, and Twitter, but it has actually been much worse than anticipated. Our Twitter account was banned. One of our YouTube accounts was banned and another has been suspended. Facebook “fact-checks” everything we post. Spotify canceled us. Why? Because we believe in the truth prevailing, and that means we will continue to discuss “taboo” topics.
The 2020 presidential election was stolen. You can’t say that on Big Tech platforms without risking cancelation, but we’d rather get cancelled for telling the truth rather than staying around to repeat mainstream media’s lies. They have been covering it up since before the election and they’ve convinced the vast majority of conservative news outlets that they will be harmed if they continue to discuss voter fraud. We refuse to back down. The truth is the truth.
The lies associated with Covid-19 are only slightly more prevalent than the suppression of valid scientific information that runs counter to the prescribed narrative. We should be allowed to ask questions about the vaccines, for example, as there is ample evidence for concern. One does not have to be an “anti-vaxxer” in order to want answers about vaccines that are still considered experimental and that have a track record in a short period of time of having side-effects. These questions are not allowed on Big Tech which is just another reason we are getting cancelled.
There are more topics that they refuse to allow. In turn, we refuse to stop discussing them. This is why we desperately need your help. The best way NOQ Report readers can help is to donate. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal as well. We are on track to be short by about $5300 per month in order to maintain operations.
The second way to help is to become a partner. We’ve strongly considered seeking angel investors in the past but because we were paying the bills, it didn’t seem necessary. Now, we’re struggling to pay the bills. We had 5,657,724 sessions on our website from November, 2020, through February, 2021. Our intention is to elevate that to higher levels this year by focusing on a strategy that relies on free speech rather than being beholden to progressive Big Tech companies.
During that four-month stretch, Twitter and Facebook accounted for about 20% of our traffic. We are actively working on operating as if that traffic is zero, replacing it with platforms that operate more freely such as Gab, Parler, and others. While we were never as dependent on Big Tech as most conservative sites, we’d like to be completely free from them. That doesn’t mean we will block them, but we refuse to be beholden to companies that absolutely despise us simply because of our political ideology.
We’re heading in the right direction and we believe we’re ready talk to patriotic investors who want to not only “get in on the action” but more importantly who want to help America hear the truth. Interested investors should contact me directly with the contact button above.
As the world spirals towards radical progressivism, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report going.