Opinion | Big business has to pay its fair share to rebuild America

  • 📰 MSNBC
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Opinion | HayesBrown: Businesses are doing their best to scuttle the tax hike. If anything, corporations should pay even more than the Biden admin. has on the table. - MSNBCDaily

on the revenue side of things. I understand the inclination to get broad support for the American Jobs Plan, but yielding to corporate demands here would be a terrible mistake. If anything, corporations should pay even more than the Biden administration has on the table.There's no question that the tax code is extremely generous to big business.

A new study put out just last week found that at least 55 of our largest corporations used various loopholes to pay $0 in federal income taxes in 2020.— President Biden Meanwhile, despite changes to the tax code designed to keep U.S. companies from hiding their profits outside the country, the Treasury Department still estimates that the equivalent of a staggering 1.5 percent of the U.S. gross domestic product is housed in just seven major overseas tax havens.

Bear in mind that these companies were still paying 35 percent, higher than Biden is asking, as recently as 2016, before the Trump administration's tax cuts. The effective rate being paid was already even lower than the current ceiling — thanks to various loopholes,

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

HayesBrown Daily I agree that big corporate businesses should pay 💰 up on corporate taxes when they can afford it and it would boost the economy.

HayesBrown Daily South border has really become a crisis, they’re estimating 35,000 children shortly, apparently all of Central America and Mexico are sending their children in hopes that they become citizens and pull in their parents to jump immigration policies into the USA.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 469. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines