Sully: The problem with raising taxes on corporations

SAN DIEGO (KUSI) – As the White House considers raising taxes on corporations for the first time in more than 25 years, the head of one of America’s largest companies is backing such a plan.

Amazon CEO Jeff Bezos said in a statement Tuesday that the company is “supportive of a rise in the corporate tax rate.”

Bezos said. “Both Democrats and Republicans have supported infrastructure in the past, and it’s the right time to work together to make this happen. 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.”

“The problem is that corporate tax increases typically hurts wage growth, job growth and with the $6 trillion we spent so far- it could literally cause a class war. The entire impetus of the last economic boom we saw these last four years started with corporate tax cuts,” said KUSI contributor Sully Sullivan.

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