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Warren's Bold New Tax Plan Would Raise Over $1 Trillion From 'Richest, Biggest' US Corporations

#1

Warren's Bold New Tax Plan Would Raise Over $1 Trillion From 'Richest, Biggest' US Corporations

Jessica Corbett, staff writer

Sen. Elizabeth Warren unveiled yet another bold policy for her 2020 presidential campaign Thursday with a new plan that aims to offset tax loopholes and exemptions exploited by the largest and most profitable U.S. corporations.

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#2

Liz has a plan.

Imagine if this conversation had taken place decades ago.

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#3

I recall repubs claiming that the Trump tax cut would lower the corporate tax rate but close all those loopholes. What a joike. A huge giveaway to the corporate rich.

Let’s do both, close the loopholes and raise the corporate tax rate. And let’s hit the corporate execs in their own pocket books.

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#4

Think The Dem ‘leadership’ would implement anything like this? I think we will need a few more cycles of replacing the Corporate, ‘Centrist’ and "moderate’ Vichy Dems with actual Democrats before this has a chance.
Hope I’m wrong.

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#5

Do you actually think these companies would remain incorporated in the US? Companies don’t just move their operations overseas, they move their country of incorporation as well.

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#6

You got it, and then some. One trillion at this point is only a beginning though. We need to stop the rape of wealth. “It takes a village”, not a castle.

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#7

That’s one of capitalism’s love child’s. If a business or service is needed someone may be willing to operate at a fair price, not a capitalistic one. The rest can take a sea voyage. Just don’t try to sell back to the U.S. We can slap a tariff on them that equals their imagined gains for leaving.

You can’t stop these CEO’s and their ilk from conniving to succeed. They must be on a leash forever.

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#8

Define a “fair price” please. And if the US slaps on tariffs, other countries will do the same for US goods. Remember, Smoot-Hawley was one of the prime causes of the Great Depression.

Tariffs benefit producers, not consumers.

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#9

In my interpretation of fair price, competition would be (more offerings), at the same or similar pricing.

Maybe tariff is the wrong treatment. I would like to penalize those that would off shore, by making it unprofitable to do so.

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#10

Dear Senator Warren----I know you are great on financial stuff----but what is your stand on Venezuela? What is your stand on the longest WAR in US history? What is your stand on the people of Palestine? What is your stand on Yemen? The US has a problem with Venezuela and not with Saudi Arabia------please make sense of this??? Do you support dropping drone BOMBS on countries that we are not at war with??? Do you support the International Court??? I HOPE SENATOR WARREN YOU ARE A SERIOUS CANDIDATE?..…………Just because “reporters” out there are gatekeepers for the CORPORATE MILITARY POLICE STATE does not mean you must play along!

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#11

Warren has great ideas and she has an intellect. The intellect is a really scary thing to so many americans- a person who thinks, reads books, does analysis, writes things down - how boring and un- inspiring. We want a half bit entertainer with a realty tv show or a movie star - Trump, Reagan, Schwartzeneger - whoever - they just have to be a celebrity and throw out short sound bites like throwing tasty bites to a dog. No time for well thought out plans or analysis - that would take time and some level of intellect. We prefer tweets that make no sense and are sent overnight while Trump is thinking on the toilet. His best time to think. When americans grow up they might like an Elizabeth Warren.

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#12

Yes, although I like her - she must address these fundamental issues as to how the U.S. will behave in the world. We will never have true prosperity for the masses again until we end the enormous waste of money outside the U.S. when our own infrastructure is falling apart and hundreds of thousands live on the streets. And the moral issues that are involved. When will the US nation learn to respect the rights and sovereignty of other people?

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#13

Yea, if Warren was a realist she would be talking about lowering taxes further for the wealthiest. It seems to go over well in the US.

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#14

Exactly one of the two things I was thinking about. Companies must be taxed for operating in the US, buying, selling, and manufacturing. Not just for where their HQ is.

The other issue is calculating profit. Companies which plow their available assets and cash into expansion and new developments do not have to count any of that income as profit. This is the big deal for companies in terms of the need for growth. Growth means “we keep what we earn and don’t pay taxes in it” as I understand it. Correct me if I am wrong. Stock will go up with growth and investment will be smoother as well.
If I am right about this, then profit is not the thing to be taxed at all. Operation must be taxed–buying, selling and manufacturing.

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#15

That’s nice, but if we’re just going to spend it on War, and subsidies for the fossil fuel industry it hardly matters.

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#16

So you’re advocating a gross receipts tax, not an income tax then. So no deductions for anyone, just on the revenue coming in. Assuming we adjust the tax rates, I could support that.

Also, the US is one of the very few countries that taxes income on a global basis - most countries only tax you on the income you earn in the particular country.

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#17

US tax on personal income abroad is interesting. In some foreign countries an American can make a reasonable living and not owe any income tax. This is due to three things: low cost of living in some areas, many free services, and an exchange rate with US dollars that makes the foreign currency incredibly cheap.
I have long argued that these are the reasons that my employment as a teacher in China cost me no US taxes.

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#18

Seems to be a mixed bag on the Palestinian issue:

https://www.alternet.org/2017/05/senators-un-letter-israel-palestine-sanders-warren/

https://www.youtube.com/watch?v=t-zRl-tbOBA

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