Pirate's Cove

Comrade Bernie, with his three houses with the money he’s made off book sales that wouldn’t have gone anywhere without being a U.S. Senator, really wants to jack up the corporate tax rate and stuff

Sanders takes aim at corporate America with new tax plan

Sen. Bernie Sanders (I-Vt.) is shining a light on the U.S. tax code in the lead-up to Tuesday’s Democratic presidential primary debate by releasing new proposals that would aggressively raise rates on corporations and the wealthiest Americans.

On Monday, he called for raising the corporate tax rate from 21 percent to 35 percent — the level it was at before President Trump’s 2017 tax-cut law — and making statutory changes to prevent companies from using offshore tax havens.

His proposal also would require large corporations to give their employees stock until the businesses are at least 20 percent employee-owned and for large corporations to have 45 percent of their boards elected by workers.

Of course, quite a bit of the so-called “loopholes” in the tax code were removed with that tax cut law, which may be Trump’s, but was passed by the U.S. Congress. Forcing companies to give employees ownership and sit on the board? Sure thing, Comrade. Off shore havens? Perhaps Sanders should read the Constitution.

“For more than 40 years, the largest and most profitable corporations in America have rigged the tax code and our economy to redistribute wealth and income to the richest and most powerful people in this country,” Sanders said in a statement. “The American people are saying enough is enough.”

In case Bernie forgot, which is easy, since he’s only been in Congress since 1991, the Congress writes the tax laws. Yes, companies can lobby and suggest and donate to get something back, but, Congress writes the laws. Perhaps there should be a law that requires sitting federal lawmakers to be taxed at an 80% rate on any book sales.

Funny thing is, quite a few of those richest people support Democrats and vote Democrat. Why aren’t they voluntarily giving up their money and giving their employees control in their companies?

The proposal comes at a key time for his campaign.

Many recent polls show Sanders in third place, trailing Sen. Elizabeth Warren (D-Mass.), his biggest rival for the Democratic Party base’s liberal wing, and former Vice President Joe Biden.

Like Sanders, Warren is running on a platform designed to appeal to progressives, and she has seen her stock in the Democratic primary contest rise in part because of her numerous policy proposals aimed at reducing wealth inequality and reining in corporate power.

In other words, they are pandering to the far left to get the party nomination. However, how will these far-left Modern Socialist policies play in the general election? Whomever makes it out of the fighting pits will then have Trump bringing this stuff up.