If corporations want to be considered “people,” why aren’t they taxed as us “people” are?
If they get a tax rate of “.7 to 2.4%” why aren’t all of us given those same rates?
Geeezzz…It’s about time! Canada has the lowest Federal Tate of Corporate Taxation in the world. In 1948 it was 49% on profits greater than $250,000.00. Today it’s 15% on profits greater than $1,000,000.00 dollars. Many companies move profits into off-shore banks and avoid paying " any taxes". Shame… on PM Justin Trudeau…shame.
A big victory for working people, indeed.
Now waiting for Amazon to repeal…
Finally. Somebody, or someplace has bit the bullet and started the revolution. Please America, get on board with this before the propaganda machine gets going with it’s scare tactics.
State of Washington could make a public bank which has so many perks for the citizenry my head is spinning (reading about how banks work does that to me).
I think Paul Krugman had alot of good things to say about state owned public banks.
Every state should probably do that, especially now.
So far the only state that has one is North Dakota.
While it’s certainly a good thing, the tax rates seem so low as to be a joke; I needed more info.
“It’s too early to start running victory laps, but Seattle is very close to scoring a major win for progressive tax reform - the Seattle City Council has been debating the relative merits of two different approaches: the “Amazon Tax” put forward by Council members Kshama Sawant and Tammy Morales and the “Jumpstart Seattle” plan by Council member Teresa Mosqueda.
On the tax side, the two proposals differ most obviously in the revenue they generate ($500 million vs. $200 million annually), and the fact that Jumpstart would sunset after 10 years unless renewed. But there’s also a significant difference in how the two taxes are structured.”
The linked article answers some questions only. Why frinstance aren’t Amazon’s profits taxed? Well, "Washington State does not have a corporate or personal income tax. However, Washington businesses generally are subject to the following:
- Business and occupation (B&O) tax
- Retail sales/use tax
- Personal property tax
All this is just too convoluted for my simple thinking - my failure no doubt.
If I am not mistaken, the WA Supreme Court has previously ruled that a progressive income tax is a violation of the WA constitution. It will be interesting to see how long this stands. Remember, the Amazon “head tax” didn’t last either
But how long will it take for Bezos to bribe a sufficient number of our whoring politicians to get it repealed – just as he did with its predecessor Seattle-ordinance and --nationally – what the Republican harlotiticians and their Democratic (sic) Fifth Columnists did with our entire New Deal.
History proves there is (only) one protection, folks, against Bezos and his fellow perpe-traitors.
Yes it’s an R-word – but it’s NOT “reform.”
And if they are people, why aren’t they sent off to fight in our foreign wars, like our real people? If these CEO’s and their kids had to fight the wars, there would be a lot less war mongering.
Seems like there is a real battle in Seattle between progressives and the conservative, police backed, pro-business forces. There’s lots of money in that area, so it remains to be seen whether any progressive initiatives ever make it through the political process. My money is on the money.