Dear Editor,
As I understand VP Harris’ advertising, if elected, she will raise taxes on corporations. The implied benefit is that this will help middle-class citizens. It sounds good if you say it fast. But if you understand economics, you know it's different. And she has good economic advisors.
Corporations are the source of the goods and services you buy — groceries, gasoline, restaurants, medicine, clothing, etc. Corporations go out of business if they can’t make a profit. It is already happening every day during her reign.
If Harris makes the corporation pay higher taxes, the corporation must raise the price of the goods or services to cover the cost of the tax, or go out of business. In other words, everybody has to pay the increased tax. That’s you.
Now you must pay the higher cost of the corporation’s higher-taxed cost of getting you groceries, etc. That includes the middle-class workers. You can’t buy as many groceries, etc., because of the higher prices. That means the corporations are not selling as many groceries, etc., and must cut down on production since they are not selling as much to you.
Since they are not producing as much as before, they do not need all their employees, and middle-class workers and others lose their jobs.
Without a job, you can’t pay your rent or must buy even fewer goods and services, which results in even more job losses. This cascades across the entire marketplace, and we all spiral downward into depression. I was born into a depression. I witnessed how it kills a man’s soul to watch his children go hungry. You do not want to live and die in a depression.
You may think Trump is egotistic, a smart mouth, and not very courageous. However, as president after Obama, he gave us energy independence, a comfortable living, and relative freedom from fear from our enemies, which places his qualifications above Harris’.
Finally, consider this: Do you think times are hard now? If Harris is as brilliant as she wants you to believe she is, she knows this taxation economic principle and its consequences. And if she does not know recession/depression is the outcome of her corporation taxation promise, then either way, nobody, Democrat or Republican, should want her as president.
L. O. Cox Jr., Greshamville