Politicians (whom, as I’ve said before, I hold in very low esteem) like to spin this new tax like pretty much money from heaven with no strings attached.
Well, to answer the question as to whether or not taxing corporations is a good thing or a bad thing, it is neither. It’s just another tax. But please understand...
What does that mean? Corporations are business entities. When Corporations are taxed, the Corporation simply adds the additional cost of the tax to the product produced; which, in turn, is paid by the individuals that ultimately purchase the product. In other words, it is a stealth sales tax. If a Corporation can’t pass the cost along to those who purchase their product, they must cut costs in other areas like laying off employees, cutting wages, robotics or automation – or, in some cases, deciding to produce the product in another country where labor costs are much less.