Harris proposes raising the corporate tax rate to 28%, rolling back a Trump law

https://www.nbcnews.com/politics/2024-election/harris-proposes-raising-corporate-tax-rate-28-rolling-back-trump-law-rcna167208

45 comments

  1. It is called restoring the tax rate. Its how the media phrases it that makes it look so bad. All she would do would be would be to restore the tax rate.

  3. Happy to support this, but I’d also be happy to support closing the loopholes big corporations use to evade the rate altogether.

    Otherwise we’re talking about a rate increase on businesses that don’t have the means to leverage accounting tricks.

  6. So, she is proposing that corporations pay the same tax rate that I do? Sounds good to me.

  7. Corporate profits are at an all time high. Tax those greedy pigs.

  8. If we are being exploited by billionaires, might as well get taxed for it.

  9. The key issue is getting all Western nations to push up their rates collectively to stop the incentive for companies to go ‘tax shopping’ – and the incentive for other nations to indulge them.

  10. Monster tax rates should be applied to CEOs as well. Everything over $1million is immediately taxed at at least 25%, before most write offs or tax avoidance schemes

  11. Maga supporters making minimum wage strongly oppose this 😂

  12. No corporation will pay the 28% rate. There are so many loopholes that the effective rate will be considerably less.

    Closing the loopholes would probably be as effective as raising the rates.

  13. lol wasn’t it 35% before Trump? and over 40% before that? and over 50% before that?

  14. Funnily enough under Obama the corporate rate was like 34% and he wanted to lower it to 28%. Trump took that idea and lowered it too far.

  16. As many have mentioned increasing the tax rate is a step…but closing the loopholes and taxing the executives compensation accordingly is also needed…and I think finding a way to incentivize companies to reallocate percentages of executive pay to the non executive employees would help…while also working to keep prices fair…

  17. Didn’t it used to be 38-45%? You know, back when America was “great”?

  18. Good, but I don’t know why they’re not rolling it back to 35% which was what it originally was before the Trump tax cuts. Biden suggested a halfway measure too.

  19. It was 40 percent in 1980. 
    35 percent in 2000.

    It’s been higher than 40 as well. 

    Restore the corporate tax rate. 
    Also, fuck Ronald Regan. 

  22. Republicans want to bring it back to the 1950s-

    In 1950s, the corporate tax rate was 50%. it’s when we had enough money to build things take care of infrastructure and put projects in gear.

    28% is reasonable

  23. What she should do is raise the corporate tax rate to say 35(ish)% BUT offer tax credits to companies that offer good benefits to their employees. The better the benefits the more tax credits you get.

  24. Why should corporations pay a smaller tax rate than any of us?

  26. The lower the corporate tax rate, the more incentive there is for corporations to stop investing in their business, stop paying to retain their employees, and to transform into an over leveraged, cash machine that bleeds customers and reduces utility in pursuit of profit maximization.

  27. Hike that shit up and then lower tax rates dramatically for the middle class. Dems would never lose another election once people notice their take home pay has a huge spike.

  28. If corporations are people they can pay the same rates as everyone else.

    Santa Clara County v Southern Pacific Railroad – the OG “corporations are people” case ruled that Santa Clara County could not levy additional taxes on Southern Pacific Railroad because was a corporation and corporations are people and thus protected by the 14th amendment from discriminatory practices.”

    Yet somehow now they CAN have a different tax – as long as it benefits them – and somehow that’s ok? iANAL but why wasn’t this ever taken to court? When do the rest of us get these fucking same 14th Amendment rights?

  29. Lol rolling back a trump republican law minus 7 percent still. It was at 35 % I think it should be more then 50 tbh. If corps can’t pay a living wage then the government should tax them like crazy and spend it on helping people in need. Instead the united corporations of America likes to protect big businesses. They are better then us apparently.

  31. Fuck 28%, put it back at *at least* 35%.

    Republicans gut taxes, Dems only push back halfway. It’s so fucking frustrating.

  32. When Trump lowered the corporate tax rate, companies responded by doing stock buybacks rather than reinvesting or hiring like the GOP said they would do. 40% of US stock is held by foreign investors so a lot of that money just left the country. If you look at GDP, it did have a short term economic stimulus in 2017 but by 2019 had completely gone away because it increased the federal deficit.

  35. 50% tax rate on any company with revenue over 1 billion dollars. For Then we lower their tax rate if they increase average non csuite or manager worker salary or hire more. You increased your payroll by 2 billion this year of working class people? Here you save that off your taxes.

    Gives them an incentive to you know hire or increase wages.

  36. Put that bitch at 50%. Corporations aren’t struggling to eat, families are

  38. It was 35%. Trump lowered it to 21% and the wealth gap exploded. Harris want to bring in up to 28%. Seems reasonable to me. Too many ultra rich in this country.

  39. It was 35% before the republicans trickle down tax cuts in 2017

  40. A high corporate tax-rate worked back in the 50s. Because it forced companies to do everything they could to lower their taxable income, so they would research, expand into other areas, increase employment, etc.

    Now companies can just pay their execs big bucks and buyback their shares.

  44. FDR has been rolling in his grave for the past 44 years. Please, Kamala, let him rest.

  45. it’s not raising corporate tax, it’s undoing a Trump corporate welfare.

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