With government deficits compounding already record debt levels across most of the world, something has to give in budget planning. Increasing efficiency to waste less is key, but increasing tax revenues will be necessary too, unfortunately. Poor planning and wasteful financial choices over the past three decades have left us with few good options now. Allowing corporations to escape tax so they can funnel trillions into share buybacks and other financial gimmicks will become increasingly impossible to defend or tolerate. Gilded ages always end. Corporate subsidies are overdue for a mean reversion phase.
Amazon pays almost no federal tax, despite being worth over $700 billion. President Trump has criticized the company for this, yet he recently reduced the corporate tax rate, making it even easier for large companies to pay less. Here is a direct video link.
;
