The vice president is rolling out her first revenue-raising policy proposal as the Democratic presidential nominee and drawing a contrast with GOP opponent Donald Trump.
Vice President Kamala Harris is calling for raising the corporate tax rate to 28%, her first major proposal to raise revenues and finance expensive plans she wants to pursue as president.
Harris campaign spokesman James Singer told NBC News that she would push for a 28% corporate tax rate, calling it “a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.”
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If enacted, the policy would raise hundreds of billions of dollars, as the nonpartisan Congressional Budget Office has projected that 1 percentage point increases in the corporate rate corresponds to about $100 billion over a decade. It would also roll back a big part of former President Donald Trump’s signature legislation in 2017 as president, which slashed the corporate tax rate from 35% to 21%.
Trump, meanwhile, recently said he would cut taxes even further if elected president, including on businesses.
If they own 30% of the wealth they should be paying far more than 30% of taxes. After taxes and the cost of living comfortably, they are steadily increasing the wealth disparity and benefiting from a society where they are exploiting the lower classes, especially considering that a sizable number of people in the full-time working lower classes are not ever able to reach a level of basic comfort and security, as a direct result of them hoarding not just wealth but power, and not paying “their fair share” of either.
That’s a good point. Perhaps I should say “much more” instead of “a little bit more”