This is not an income tax. Employees aren’t getting taxed.
This is quite literally a tax on owners, so even by your definition this is the opposite of a regressive tax.
What this tax does do is heavily benefits incumbents over new entrants. It heavily benefits those that are already rolling in profits over those who are about to turn a loss into a profit because where it really hurts is in the margins.
Companies that have been around for a while may suffer for a couple of years as the tax is just introduced, but a few years later they will start reaping the benefits as they get tax credits from the past year.
But companies that are new will suffer at the worst possible time, right when they’re about to prove the viability of their business.
This is quite literally a tax on owners, so even by your definition this is the opposite of a regressive tax.
What this tax does do is heavily benefits incumbents over new entrants. It heavily benefits those that are already rolling in profits over those who are about to turn a loss into a profit because where it really hurts is in the margins.
Companies that have been around for a while may suffer for a couple of years as the tax is just introduced, but a few years later they will start reaping the benefits as they get tax credits from the past year.
But companies that are new will suffer at the worst possible time, right when they’re about to prove the viability of their business.