Where did this stupid talking point come from. That’s why tax brackets exist and most people don’t want the administrative overhead of deducting every single expense.
Peanut 🌻
Corporation: We made $5 billion but spent $4.9 billion to keep going, so our net taxable income is $100 million.
Gov’t: That’s right.
Worker: I made $50,000 but spent $45,000 to keep going, so my net taxable income is $5,000.
Gov’t: That’s wrong.
