Who Would Pay Biden’s Corporate Tax Increase Is Key Question in Policy Debate - WSJ

The company’s share price could also be lower than it otherwise would be, hurting shareholders.

Some shareholders may be ultra-weathly, but a lot are ordinary people investing in their 401k.

The bottom 80% of households pay more than one-quarter of corporate taxes, according to the Tax Policy Center. The Biden administration, which says it won’t raise taxes on households making under $400,000, doesn’t consider those effects as breaking its pledge.

There’s going to be a lot of this over the next few years. It’s impossible to spend trillions of new dollars and not have it effect every single person. The irony is the people these plans are supposed to help are least able to absorb the fiscal consequences.