This is such a good example of the ratchet effect… Trump lowers tax from 35% to 21%, then Biden comes in and only brings it up to 28% solidifying that 21% as a minimum for big corps… Ratchet right, hold there until the next Republican lowers it more
Corporations should pay the whole bill for a functioning society every quarter… The people should get to decide what a functioning society entails… I don’t care of it’s 1% or 99% of corporate profits, or if it changes every quarter… No exceptions for parking your company in another country, you want to sell your shit in the US, you pay the bill
It’s 28%, with a 21% minimum. Most corporations deduct far lower. It will generate more revenue from corporations than Obama’s tax system according to the IRS.
You are correct. Only the tax cuts for the wealthy expire in 2025. I wrote that incorrectly.
Biden’s new corporate tax is 28%, with a 15% minimum after deduction, and a 21% minimum on billion dollar corporations.
https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/11/fact-sheet-the-presidents-budget-cuts-taxes-for-working-families-and-makes-big-corporations-and-the-wealthy-pay-their-fair-share/
This is such a good example of the ratchet effect… Trump lowers tax from 35% to 21%, then Biden comes in and only brings it up to 28% solidifying that 21% as a minimum for big corps… Ratchet right, hold there until the next Republican lowers it more
Corporations should pay the whole bill for a functioning society every quarter… The people should get to decide what a functioning society entails… I don’t care of it’s 1% or 99% of corporate profits, or if it changes every quarter… No exceptions for parking your company in another country, you want to sell your shit in the US, you pay the bill
It’s 28%, with a 21% minimum. Most corporations deduct far lower. It will generate more revenue from corporations than Obama’s tax system according to the IRS.