April 13, 2019

至杰

Massachusetts Senator Elizabeth Warren, a former Harvard law professor who is the presidential candidate campaigning for Democratic party’s nomination in 2020, unveiled her new tax proposal on April 11 aimed at corporate profits, criticizing “Amazon reported more than $10 billion in profits and paid zero federal corporate income taxes. Occidental Petroleum reported $4.1 billion in profits and paid zero federal corporate income taxes” in 2018.

While US corporate tax reform is needed by most observers, Gallup, Inc., an analytics and advisory company based in Washington, D.C. founded by George Gallup in 1935, released its result of a Gallup poll in April 2018, finding that 66 percent of the Americans believe corporations pay “too little” in taxes.
“There would be no loopholes or exemptions” for the so-called Real Corporate Profits Tax,” Warren said. It would be paid on top of what corporations owe under US tax law and apply to profits earned domestically and abroad, preventing companies from shifting profits offshore to avoid the tax. Under Warren's tax proposal, corporations would have to pay an additional 7% tax on any earnings above $100 million, which if enacted would raise an estimated $1 trillion from 1,200 most profitable companies.
For Warren, the Real Corporate Profits Tax is the latest in a series of policy blueprints she has written, including earlier proposals to tax annual wealth exceeding $50 million, to make child care universally accessible, and to reduce rent costs with federal investments for the purpose of increasing housing supply.

Photo:Webshot.