Episode 243: The Nature of Exchange, pt. 1
Words & Numbers
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The Corporations Are Tax Collectors
"It's astonishingly stupid. I have been called a buffoon on Twitter many times the last couple of days as I referred to the corporations as tax collectors," he says. "If Joe Biden promised not to raise taxes on anyone under $400,000 a year, he's just lied." The average company in the US has a 6% profit margin; that's barely enough to make up for inflation and the opportunity cost of having your money invested in the company in the first place., Obama adds.
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