Sigh. What “companIES” did varied with the “companIES” needed and could do. If they could do what they wanted with cash, they would charge 2X for their products rather than X. Why don’t they just charge 2X? Because. They. Can’t.What did company’s do with the increased profits from paying less in taxes? Did they invest in people, R&D or PP&E? No they bought back shares...so they’ll buy less shares going forward. A tax increase back to the prior rate will have a very small impact in the financial health of these companies and their employees.
In the short term, they might hoard cash and buy back shares, pay dividends, pay off debt (including buying out pensions), etc. I’ve literally seen it all. Everyone wants to have a cleaner balance sheet.
But over the middle and long-term, everything gets passed down. Because your costs—which taxes and tariffs are part of—all get passed down the chain. And for the same reason that the companIES don’t charge 2X—because they can’t. Over time, prices reflect costs. But tell yourself whatever you need to make you feel better about the fact that you‘re taxing the middle and lower classes.