The vice president is rolling out her first revenue-raising policy proposal as the Democratic presidential nominee and drawing a contrast with GOP opponent Donald Trump.
Vice President Kamala Harris is calling for raising the corporate tax rate to 28%, her first major proposal to raise revenues and finance expensive plans she wants to pursue as president.
Harris campaign spokesman James Singer told NBC News that she would push for a 28% corporate tax rate, calling it “a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.”
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If enacted, the policy would raise hundreds of billions of dollars, as the nonpartisan Congressional Budget Office has projected that 1 percentage point increases in the corporate rate corresponds to about $100 billion over a decade. It would also roll back a big part of former President Donald Trump’s signature legislation in 2017 as president, which slashed the corporate tax rate from 35% to 21%.
Trump, meanwhile, recently said he would cut taxes even further if elected president, including on businesses.
Maybe roll it back up to 35 percent instead of letting republicans gain ground every fucking election and doing half assed measures that still result in net loss for the people? I mean it’s a step in the right direction but Jesus fucking Christ man.
Shit why not make it 50%, it was that way in 1950.
Back when there were numerous loopholes, deductions, and methods of evasion and nearly none paid that rate? And when they later lowered effective rates, closed loopholes, and ended up collecting more?
Yeah, let’s do that. Let’s incentive finding ways to avoid paying taxes.
This is exactly how you give incentives to higher CEO pay. Record profits? Give all of it to the CEO and you’ll pay none of it to the government. You didn’t mention a higher personal tax rate, so end of the day the CEO wins.
Own an S-Corp? Pass through all profits to yourself and pay 0%.
Corporations still find loopholes and pay nearly no taxes… If corporations and Billionaires paid their taxes just like common folks, the country would make a lot more in taxes.
F