Poverty Is The Biggest Problem In The World
Poverty can be caused by this because money circulates in the system but instead of returning to the majority it remains in their hands. This hurts the economy because if the corporations avoid taxes then ordinary people are forced to pay higher taxes while corporations and the rich avoid theirs. “Corporate tax payments now account for just 2.5% of national income, the smallest share ever” (Shah). If the government doesn’t get the revenue it needs from taxes it cannot provide public goods as efficiently or redistribute wealth.
Big Corporations undermine democracy by avoiding taxes because they can change the market to favor them. They have tons of money so they have power and influence over government, because with their money the government would not be able to function properly so the government has no choice but to pass policies in their favor. It’s been proven that the rich have more say in government while “average citizens” like you and I “have next to no influence.” (Covert)
Big Corporations are costing us money by not paying the taxes they are supposed to pay. We could have lower tax brackets and not have lower taxes but because they don’t do their fair share of paying we have to pay higher taxes than we need to. This is insane because it’s costing the united states “around $100 billion per year”