Tag: tax the rich
The global corporate minimum tax would ensure all companies worldwide pay a minimum tax of 15% and would require higher taxes of large companies in countries where they have customers.
"Any millionaire who has sense enough to see that our current economic model is failing will support these protests."
"During 2021, we witnessed the epidemic of Covid-19 and wealth-hiding, and it's time to reverse course."
Proposals in play to pay for the ambitious public investment plan could help reverse skyrocketing wealth inequality.
Fortunately for them, they’ve got the New York Times running interference.
It's far below the level of progressivity the United States embraced in the middle of the 20th century—when wealthier individuals paid a much higher share of their income in taxes than the poor.
A perverse loophole allows owners of profitable teams — and their heirs — to lower their tax bills by claiming huge paper losses.
Owners like Steve Ballmer can take the kinds of deductions on team assets — everything from media deals to player contracts — that industrialists take on factory equipment. That helps them pay lower tax rates than players and even stadium workers.