Plus corporate taxes are already very low. The highest nominal tax rates in Europe are around 30%, but that is misleading. The actual real tax rates are somewhere from 5% to 10%, because every country has these "ifs and buts" clauses, that they use to lower corporate taxes, and effective act as a tax haven, while pretending they are not.
Coincidentally, I just checked this statistic on OECD: corporate tax revenue is just around 4% to 8% of total tax revenue. I wonder where these corporations would be if the normal people weren't contributing ~90% of tax revenue for upkeep of state infrastructure, that enables the existence of these businesses in the first place.
That's true, but it's worth mentioning that income tax also doesn't seem to be a large portion of most country's GDP. It seems to range between 1% to 14%, except Denmark (25%) which is an outlier. See: https://data.oecd.org/tax/tax-on-personal-income.htm#indicat.... The global average is only 8%!
Another interesting fact is that in the graph for corporate profit, Luxembourg actually has the highest rates, which must be because of its small size and huge number of companies that are registered there to benefit from the countries low tax rate.
Despite this I think corporate should be higher judging how much large multinationals earn. Otherwise the income inequality is only going to grow further.
Actually, I looked into it more, in my country, the Netherlands, and over all it is split: 55% individual contributions, 45% business contributions.
Income taxes are just plain income taxes. There are also social security contributions, part of which is paid by the employer. I know it is not necessarily appropriate to say that that is a tax the employer has to pay, but I counted it as such. Transaction taxes, I counted as a "business tax". VAT, I counted as individual taxation, mostly because it is regressive and hits the poor, i.e. non business owners disproportionately.
So my earlier claim was incorrect. It is more of a 50-50 split.
"social security contributions.... tax the employer has to pay": that's a great lie, that employers pay those, not employees.
For employers, it's one amount of money paid for hiring an employee: employers don't really care what's salary, and what's taxes. In France, employees don't even get 50% of their gross salary: there are more social security contributions than salary.
Employees should really want to reduce social security contributions, instead of thinking "my boss pays for it".
The highest nominal tax rates in Europe are around 30%, but that is misleading. The actual real tax rates are somewhere from 5% to 10%, because every country has these "ifs and buts" clauses, that they use to lower corporate taxes, and effective act as a tax haven, while pretending they are not.
Where do I sign up for those? Because my small businesses all pay the UK's published corporation tax rate of 19%, and the shareholders now get hit with a further dividend tax on the remainder.
Coincidentally, I just checked this statistic on OECD: corporate tax revenue is just around 4% to 8% of total tax revenue. I wonder where these corporations would be if the normal people weren't contributing ~90% of tax revenue for upkeep of state infrastructure, that enables the existence of these businesses in the first place.
https://data.oecd.org/tax/tax-on-corporate-profits.htm