Are the demoncrats going too far???
She’s like a flailing animal trying to see what sticks for her fading Presidential run. That’s about it.
they should really just go for individual incomes whether they be ordinary or capital gains as oppose to going after corporate tax rate.
Given that the tax code is full of loopholes so that large corporations can essentially pay zero tax (Amazon paid under 3% in 2017/2018) , I wouldn’t say that the dems are going too far. Or let’s put it this way; if you think that large corporations should contribute to the society in the form of taxes, Warren’s idea doesn’t sound too bad at all.
Why just big companies though, other than because it plays to peoples’ emotions? So some hedge fund and law firm guys paying partners $5 million each are fine, but large companies employing thousands of medium wage workers are targets? She’s going after big corporations because it’s politically easy and she is an outside shot. If she was the frontrunner to be President, she’d be talking about more moderate policies.
Agree, corporate tax rate impact reinvestment, competitiveness and access to overseas capital. Personal tax rate, not so much.
Taxes should be illegal. They should either include it in the cost or just pay people less.
I don’t understand how big corporations report bazillions in profit and pay nothing in taxes. It seems like the author of the article doesn’t understand, because he didn’t give any kind of technical details.
Methinks that what Sen. Warren calls “loopholes in the tax law” is what I call “legal deductions written into the Internal Revenue Code”.
Probably goes hand in hand with her advocacy for breaking up big tech.
Anyone out there interested in running surpluses instead of deficits? Anyone interested in paying down the national debt? If so, how do we do that?
Well with a 1 trillion deficit. And a 20 trillion debt it’ll be hard to do.
But you can tax rich people more.
A 10 percent marginal tax rate across the board will prolly yield 400b. You can also create higher tax brackets with higher marginal tax rates for them to squeeze out more money.
Cut benefits for the old and sick people! They spend 2trillion on this. A 20 percent reduction would save us 400b. Stretch out retirement age as well, that’ll keep a lid on costs!
cut military. We spend 700b. We can put it back on the old budget of 500b and save another 200b.
Then we are budget neutral.
our rates would prolly go lower too! I’d say by 100 bps, so that’s 100b surplus. Unfortunately that debt will be there for awhile.
I like the partnership model. Why bother setting up all of these complicated rules to capture a piece of a corp income in taxes when you can just get if from the individual when it’s passed on as income. Companies viewing tax consequences in decision making is inefficient.
Of course, that’s not gonna get you elected.
"America will never be a socialist country” - President Trump