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Drudge Retort: The Other Side of the News
Wednesday, October 27, 2021

New details of a Democratic plan to enact a 15% minimum corporate tax on declared income of large corporations were released Tuesday. The tax would apply only to companies that publicly report more than $1 billion in profits annually for a three-year period.

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Good.

Apple, Amazon, etc all use offshore tax havens to earn billions and pay zero in taxes to the United States. Time to pay up. The free ride is over.

#1 | Posted by Nixon at 2021-10-27 07:52 AM | Reply

"declared income" Key Words. they won't pay anymore than they do right now. The Tax Code is way to complicated. just another way for the Dems to fire up their uneducated base.

And, even if it did happen the Corporations would pass on the additional expense to the everyday consumer!

the middle class will be paying these Taxes

#2 | Posted by Maverick at 2021-10-27 09:22 PM | Reply

"even if it did happen the Corporations would pass on the additional expense to the everyday consumer!"

Flag: Failed Econ 101

Basically, corporations can only pass along the amount the market will bear. The difference is "paid" by the corporation, and result in lower corporate profits (i.e., the goal).

#3 | Posted by Danforth at 2021-10-27 09:29 PM | Reply | Newsworthy 4

And, even if it did happen the Corporations would pass on the additional expense to the everyday consumer!

Just like how the tax cuts in 2017 lowered prices? Corporations got a 40% tax cut. Did prices drop accordingly? Oh yeah, they didn't.

Prices are a factor of demand...raise prices demand drops. I am not surprised this has to be explained to you.

#4 | Posted by Nixon at 2021-10-28 08:42 AM | Reply | Newsworthy 3

A Dem tax plan I can get behind? Color me pleasantly surprised.

#5 | Posted by kwrx25 at 2021-10-28 03:41 PM | Reply

If this means those super rich who use tax havens like Musk, Bezos and Soros are finally going to have to pay taxes...I'm on board.

#6 | Posted by jamesgelliott at 2021-10-28 05:32 PM | Reply

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