Sen. Warren seeks to close corporate tax loopholes, end exemptions for most profitable companies

[TexasTowelie]

U.S. Sen. Elizabeth Warren, D-Mass., announced Thursday a plan to close corporate tax loopholes and exemptions, which she said could generate $1 trillion in revenue over the next 10 years.

“Our corporate tax code is so littered with loopholes that simply raising the regular corporate tax rate alone is not enough,” the Democratic presidential hopeful said in a statement.

The Real Corporate Profits Tax proposal would require the nation’s most profitable companies to pay federal income tax. According to Warren, Amazon and Occidental Petroleum publicly reported more than $10 billion and $4.1 billion in profits, respectively – but paid nothing in federal corporate income taxes.

Under Warren’s proposal, Amazon’s taxes would amount to $698 million, with Occidental Petroleum paying $280 million.

Read more: https://www.masslive.com/news/2019/04/sen-elizabeth-warren-seeks-to-close-corporate-tax-loopholes-end-exemptions-for-most-profitable-companies.html

[Fred Sandman]

1. The endless American media obsession with the horse race over substance continues full gallop.

[hedda_foil]

2. You do realize that this is a POLICY report in American media and not horse race reporting?

Your comment seems to be a non sequitor.

[zanana1]

3. I went to a house party for Sen. Warren yesterday.

She's my pick for the primaries. She spoke up way before it was "popular", and she knows of where she speaks. The party was held in an old farmhouse in Londonderry, NH and it was filled to the rafters. There were people standing outdoors trying to get in. She's very popular here.

[loyalsister]

4. She has awesomely detailed policy proposals

One of my favorite things about her candidacy is hearing her on a national stage and knowing that even if she doesn't win, she can go back and sponsor the bills.