NEW YORK - Democratic presidential candidate Joe Biden has promised to push his own tax proposals on “day one” if he wins the election on Tuesday - including raising the corporate tax rate to 28% and doubling the rate to 21% on overseas profits from patents, copyrights and trademarks.
The higher rate on intellectual property would “be a significant change for a lot of companies” at a time when economic recovery from the coronavirus pandemic for employers is uncertain, said Daniel Bunn, vice president of global projects at the conservative Tax Foundation.
Ewww, Chinese slave labor profiteers.
So, pretty much like every election around the world.
Oh no, companies worth billions will have to pay their share.
'The great enemy of the truth is very often not the lie - deliberate, contrived and dishonest - but the myth, persistent, persuasive, and unrealistic. Belief in myths allows the comfort of opinion without the discomfort of thought.' ~~John F. Kennedy
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Source: Reuters - 🏆 2. / 97 Read more »