This is patently false. It’s a common right-wing talking point that somehow taxes are so high that the rich aren’t investing.
The reality: Nobody’s ever going to shy away from a good investment just because their profits will get taxed a few extra percent. That is not only poor business sense, but it’s just mathematical absurdity. If this were true, big businesses would be taking advantage over everyone else who was too risk-averse to do anything. We don’t see this. Besides, taxes are already at an all-time low and they have record profits and cash reserves. How does adding more money to that massive pile actually help everyone in the end? It doesn’t.
So why aren’t people investing? Demand is low. The middle class doesn’t have money. Costs are high. What good is there to invest and hire workers when people can’t afford to buy your product/service?
If what you’re saying is that taxes should be lowered to the point where it’s cheaper to hire Americans instead of people working for peanuts overseas, then all you’re really saying is that you’d prefer to make Americans work for peanuts instead. Shifting the tax burden to those who can least afford it while giving more money to those who already have tons of money doesn’t make sense.
We’ve been lowering taxes on the rich for years and it hasn’t helped. They shelter the money. It’s not much different from the argument that when we gave tax rebates to the poor/middle classes in the past, they saved it and paid down debt instead of spending it. The better response is to raise taxes instead and cut costs within our own infrastructure so more people can actually afford to participate in the economy.
The fact that there’s trillions of dollars being sheltered from taxes is just crazy.