Tax cuts increase government revenue because additional commerce is transacted. Additional merchandise is purchased. More consumers consume more products and services. This applies to people of all income levels. It applies in large magnitude to the wealthy. When the wealthy are allowed to keep their income, they save, invest, and spend. This activity creates jobs.
You may think higher taxes on the wealthy don’t affect you. But wealthy people invest in businesses. That investment in turn provides jobs that boost the economy. When such investments are penalized with higher taxes, the rate of investment slows. That slows and impedes economic growth and job opportunities.
Politicians too often announce they will not raise taxes on the middle class. Instead they plan to raise corporate income taxes to get corporations to pay their rightful share of government.
When a tax is applied to a corporation, if it plans to survive, it will have a few options.
One option is to raise prices of its products and / or services. In this case, the consumer pays the tax.
Another option is to lower dividends. In this case the corporation’s owners, often retired and pension beneficiaries pay the tax.
Another option is to cut expenses by laying off workers. In this case, its workers pay the tax.
Another option is to decrease the quality of their products and / or services. We know who pays the tax then. It will be the consumer who receives inferior products and / or services.
Corporations exist to employ workers, produce products and / or services. What corporation’s name is on your paycheck?
Corporations continue existing only if they earn a profit. Workers will be unemployed if the corporation employing them closes because it cannot earn a profit adequate enough to pay its expenses, including workers’ salaries.