Average people would pay for higher corporate tax rate

The nonpartisan Tax Foundation has released a series of new reports showing how raising the U.S. corporate tax rate would be harmful to average workers and families.

Vice President Kamala Harris and congressional Democrats want to raise the corporate tax rate to 28% to make the wealthy and big corporations “pay their fair share.” They claim they want to help middle-class families. But the Tax Foundation research shows that a higher corporate tax rate would have multiple negative effects on average Americans through lower wages, higher prices, and reduced retirement savings.