It’s even a little on the nose that this is coming from Hillary. I’m worried that they’re falling into the same intellectually and politically bankrupt trap as in 2016, that they’re aware that they don’t have a meaningful platform besides “we’re not republicans”, and that they’ve somehow convinced themselves that this is enough.
The irony is that... progressives absolutely do have a solid platform that people generally support. by people, I'm excluding Hilary's and Biden's Corporate Donors. Sorry, I don't have to respect Citizens United.
Biden's Corporate Donors.
These people must have hated it when Biden created a 15% minimum corporate tax rate.
These people must have hated it when Biden created a 15% minimum corporate tax rate.
If the status quo is any indication, corporate tax rules are largely performative. I would be happy to be wrong about that and see actual enforcement happen as a result of the Inflation Reduction Act, but I'm not gonna hold my breath.
There is some detailed guidance about the CAMT I found here, but someone with more specific knowledge will have to parse through it to determine how easily they are gonna be able to dodge this, too.
These people must have hated it when Biden created a 15% minimum corporate tax rate.
If the status quo is any indication, corporate tax rules are largely performative.
First of all NO tax increase is ever "performative". That is a completely meaningless sentence. 2nd, you obviously don't understand how rare and difficult it is to increase taxes. 3rd, you obviously don't understand how critical it is to raise taxes on the wealthy.
Did you click through to the first article I linked? I called them performative because corporations just exploit loopholes to avoid paying their dues anyway.
I understand the importance of raising taxes on the wealthy. However, I also understand that those efforts will be meaningless if they aren't backed up on the enforcement side.
These people must have hated it when Biden created a 15% minimum corporate tax rate.
There's enough loopholes that they didn't care all that much. It only affects companies that net over a billion dollars in profit to start with, and then there's the question of... do they actually pay the taxes they currently owe? (answer: they do not.)
It's not like they were paying the ostensible 12% taxes they owed before.
The entire point of the 15% MINIMUM tax rate is that their are no loopholes around it.
It’s not like they were paying the ostensible 12% taxes they owed before.
You know nothing about taxes. The rate was reduced by Convicted Rapist Treason Trump from 34% to the current 20%.
It's not Biden's fault that you don't understand or pay attention to crucial current events.
You know nothing about taxes. The rate was reduced by Convicted Rapist Treason Trump from 34% to the current 20%.
apple's tax rate the last 3 years, from their '22 10k:
from microsoft's '23 10k:
Tesls '23 10k:
Do go on about how the current tax is 20%.
now lets talk about the 15%- the biggest and most obvious loop hole is that it only applies to corporations that make more than 1 billion in earnings. Which, is actually relatively few. and if you can't think of a way around that for the few that are there, then you probably shouldn't be talking. I can think of a few ways. The easiest is to fork off functional sections into subsidiaries (which then pay their own taxes)
but under no circumstances did Biden do that without his corpo benefactors giving him the go ahead to do so in the first place. Because money is speech and corporations are people... and corporations have a helluvalotta "speech" to give. either to biden or his competitor.
The irony is that... progressives absolutely do have a solid platform that people generally support. by people, I'm excluding Hilary's and Biden's Corporate Donors. Sorry, I don't have to respect Citizens United.
These people must have hated it when Biden created a 15% minimum corporate tax rate.
If the status quo is any indication, corporate tax rules are largely performative. I would be happy to be wrong about that and see actual enforcement happen as a result of the Inflation Reduction Act, but I'm not gonna hold my breath.
https://itep.org/55-profitable-corporations-zero-corporate-tax/
There is some detailed guidance about the CAMT I found here, but someone with more specific knowledge will have to parse through it to determine how easily they are gonna be able to dodge this, too.
https://www.irs.gov/pub/irs-drop/n-23-20.pdf
First of all NO tax increase is ever "performative". That is a completely meaningless sentence. 2nd, you obviously don't understand how rare and difficult it is to increase taxes. 3rd, you obviously don't understand how critical it is to raise taxes on the wealthy.
Did you click through to the first article I linked? I called them performative because corporations just exploit loopholes to avoid paying their dues anyway.
I understand the importance of raising taxes on the wealthy. However, I also understand that those efforts will be meaningless if they aren't backed up on the enforcement side.
It's not like they were paying the ostensible 12% taxes they owed before.
The entire point of the 15% MINIMUM tax rate is that their are no loopholes around it.
You know nothing about taxes. The rate was reduced by Convicted Rapist Treason Trump from 34% to the current 20%.
It's not Biden's fault that you don't understand or pay attention to crucial current events.
Do go on about how the current tax is 20%.
now lets talk about the 15%- the biggest and most obvious loop hole is that it only applies to corporations that make more than 1 billion in earnings. Which, is actually relatively few. and if you can't think of a way around that for the few that are there, then you probably shouldn't be talking. I can think of a few ways. The easiest is to fork off functional sections into subsidiaries (which then pay their own taxes)
but under no circumstances did Biden do that without his corpo benefactors giving him the go ahead to do so in the first place. Because money is speech and corporations are people... and corporations have a helluvalotta "speech" to give. either to biden or his competitor.