Sen. Bernie Sanders: Corporate taxes would ‘absolutely’ go back up if Democrats win Senate in 2018

[Teh One Who Knocks]

By Valerie Richardson - The Washington Times


https://i.imgur.com/hoT1kID.jpg

Sen. Bernard Sanders said Sunday that corporate taxes would “absolutely” go back up if Democrats retake the Senate in 2018.

“I think we’re going to take a very hard look at this entire tax bill and make it a tax bill that works for the middle class and working families, not for the top 1 percent and large multinational corporations,” the Vermont independent said on CBS’ “Face the Nation.”

Asked if that would mean raising the federal corporate tax rate, which would drop from 35 to 21 percent under the Republican tax-reform plan expected to pass Congress this week, Mr. Sanders said, “In my view, absolutely.”

Republicans have touted the reduction as a way to stimulate the economy and repatriate companies that have moved overseas in order to avoid the U.S. corporate tax, the highest among the world’s major economies.

Including average state and local taxes, the corporate tax rate can reach 38.9 percent.

Republicans will cling to a one-vote majority in the Senate entering the 2018 midterm elections after Tuesday’s victory by Democrat Doug Jones in Alabama, which swung the seat from Republican to Democrat in the deep-red state.

Mr. Sanders, an independent who ran unsuccessfully for the Democratic presidential nomination in 2016, caucuses with the Democrats.

[Muddy]

Way to help build confidence in the American economy, Bernie... :thumbsup: /s

[lost in melb.]

His heart is in the right place. In part, greedy unfettered corporate bastards brought your country ( and the world) to standstill, didn't they?

[lost in melb.]

Bah, what am I saying... the Uber rich don't pay tax anyhow

[Teh One Who Knocks]

His heart is in the right place. In part, greedy unfettered corporate bastards brought your country ( and the world) to standstill, didn't they?

How do you figure? You math about as well as the democrats in this country do. Make the corporate tax rate the highest in the world (of world’s major economies) and force all the corporations to move their operations overseas so they avoid paying tax at that rate. So, not only are you depriving the country of tax income, you are allowing those companies to give that income to foreign countries. Lower the tax rate to be competitive with the rest of the world, and now the corporations don't have to go overseas and the tax income is back here in the United States.

35% of nothing is nothing. 21% of something, is a lot bigger number.

[lost in melb.]

How do you figure? You math about as well as the democrats in this country do. Make the corporate tax rate the highest in the world (of world’s major economies) and force all the corporations to move their operations overseas so they avoid paying tax at that rate. So, not only are you depriving the country of tax income, you are allowing those companies to give that income to foreign countries. Lower the tax rate to be competitive with the rest of the world, and now the corporations don't have to go overseas and the tax income is back here in the United States.

35% of nothing is nothing. 21% of something, is a lot bigger number.

Heart in the right place... means he is trying to do good, but is misdirected. I agree that 35% is too high. Innovative companies like Tesla would never get off the ground here due to our taxes, red tape, unions, etc. Your economic system is messy but it kind of works.

However, the rich can't keep on getting richer indefinitely. Something has to give. Perhaps a better solution might be that the wealthy have less loopholes to escape personal tax? i.e. that they actually pay what they are meant to pay.

[DemonGeminiX]

They can't keep getting richer indefinitely. Eventually, they die... like all human beings. And even if they didn't, then why not? Why should any one person be required to pay a higher tax rate than any one else? Why punish people for their ability and ingenuity to create wealth?

[lost in melb.]

They can't keep getting richer indefinitely. Eventually, they die... like all human beings. And even if they didn't, then why not? Why should any one person be required to pay a higher tax rate than any one else? Why punish people for their ability and ingenuity to create wealth?

Who said that giving back to your society is punishment? Not, I.

Countries cost money to run, as your account deficit attests. Why shouldn't those who have benefited from an artificial system that allows them to accumulate enormous wealth support that very system.

[DemonGeminiX]

They do... by creating jobs inside of the businesses they start, improving the economy of this nation. That's kind of how the free market works.

Forcing them to pay a bloated government that demands "their fair share" isn't helping the country, nor the country's people. Altruism by decree is not altruism at all. It's tyranny.

[lost in melb.]

I don't completely disagree. However, I don't think the free market left unfettered sorts itself out into some kind of utopia.

There's always a human price down the end of the line to get the cheapest goods.

[RBP]

Heart in the right place... means he is trying to do good, but is misdirected. I agree that 35% is too high. Innovative companies like Tesla would never get off the ground here due to our taxes, red tape, unions, etc. Your economic system is messy but it kind of works.

However, the rich can't keep on getting richer indefinitely. Something has to give. Perhaps a better solution might be that the wealthy have less loopholes to escape personal tax? i.e. that they actually pay what they are meant to pay.

https://i.imgur.com/aXjE5pJ.png

Key Findings

In 2013, 138.3 million taxpayers reported earning $9.03 trillion in adjusted gross income and paid $1.23 trillion in income taxes.
Every income group besides the top 1 percent of taxpayers reported higher income in 2013 than the previous year. All income groups paid higher taxes in 2013 than the previous year.
The share of income earned by the top 1 percent of taxpayers fell to 19.0 percent in 2013. Their share of federal income taxes fell slightly to 37.8 percent.
In 2012, the top 50 percent of all taxpayers (69.2 million filers) paid 97.2 percent of all income taxes while the bottom 50 percent paid the remaining 2.8 percent.
The top 1 percent (1.3 million filers) paid a greater share of income taxes (37.8 percent) than the bottom 90 percent (124.5 million filers) combined (30.2 percent).
The top 1 percent of taxpayers paid a higher effective income tax rate than any other group, at 27.1 percent, which is over 8 times higher than taxpayers in the bottom 50 percent (3.3 percent).


The data would say we have an income stratification issue, not a tax stratification issue. As for total receipts, the US federal government continues to break record after record for receipts, yet stills shows a deficit. That's a spending problem, not a taxation problem.

[lost in melb.]

62 people have as much wealth as world's 3.6B poorest, Oxfam finds ahead of Davos

https://www.cnbc.com/2016/01/17/62-people-have-as-much-wealth-as-worlds-36b-poorest-oxfam-finds-ahead-of-davos.html

http://www.globalresearch.ca/wp-content/uploads/2014/10/Richest-one-percent-control-global-wealth1.jpg

[Teh One Who Knocks]

62 people have as much wealth as world's 3.6B poorest, Oxfam finds ahead of Davos

https://www.cnbc.com/2016/01/17/62-people-have-as-much-wealth-as-worlds-36b-poorest-oxfam-finds-ahead-of-davos.html

http://www.globalresearch.ca/wp-content/uploads/2014/10/Richest-one-percent-control-global-wealth1.jpg

Apples and oranges. You can't compare someone living in a mud hut in Africa to Jeff Bezos of Amazon or Elon Musk of SpaceX.

[Teh One Who Knocks]

https://i.imgur.com/aXjE5pJ.png

Key Findings

In 2013, 138.3 million taxpayers reported earning $9.03 trillion in adjusted gross income and paid $1.23 trillion in income taxes.
Every income group besides the top 1 percent of taxpayers reported higher income in 2013 than the previous year. All income groups paid higher taxes in 2013 than the previous year.
The share of income earned by the top 1 percent of taxpayers fell to 19.0 percent in 2013. Their share of federal income taxes fell slightly to 37.8 percent.
In 2012, the top 50 percent of all taxpayers (69.2 million filers) paid 97.2 percent of all income taxes while the bottom 50 percent paid the remaining 2.8 percent.
The top 1 percent (1.3 million filers) paid a greater share of income taxes (37.8 percent) than the bottom 90 percent (124.5 million filers) combined (30.2 percent).
The top 1 percent of taxpayers paid a higher effective income tax rate than any other group, at 27.1 percent, which is over 8 times higher than taxpayers in the bottom 50 percent (3.3 percent).


The data would say we have an income stratification issue, not a tax stratification issue. As for total receipts, the US federal government continues to break record after record for receipts, yet stills shows a deficit. That's a spending problem, not a taxation problem.

Like I read somewhere earlier in response to the wealthy getting a bigger tax cut than the middle class. Of course it's a bigger tax cut, a 5% tax cut on $10,000,000 in income i a LOT compared to a 5% tax cut on $60,000 in income. Plus, what these dolts seem to forget is what is shown by your post, that the very few wealthiest Americans pay BY FAR the biggest share in income tax already.

[Muddy]

We should just all pay 10-15% regardless of what you make.. Everyone should bleed.

[perrhaps]

We should just all pay 10-15% regardless of what you make.. Everyone should bleed.

But, but, but then more people would start paying attention to our government's bloated, wasteful spending habits, and we can't have that, can we?