The Real Corporate Profits Tax Act would create a 7 percent tax on income over $100 million reported to shareholders.
Republicans have rejected proposals to tax corporations and the rich and a proposal to enforce tax law on the rich.
Republicans have dropped a proposal to increase funding for the IRS from the bipartisan infrastructure bill.
Several GOP senators now say they’re wary of the bipartisan infrastructure proposal, leaving it in limbo.
This corporate billionaire space race? You can keep it.
“So you’re telling me they’re against catching tax cheaters?” asked Rep. Ro Khanna.
Billionaires’ “family investment offices” help them to dodge taxes and snarl efforts to make their finances transparent.
A majority of the companies surveyed widened their CEO-to-median-worker pay ratio last year as CEO pay skyrocketed.
The report found that the wealthiest Americans are often able to dodge most, if not all, federal income taxes.
Recent wealth gains of U.S. billionaires compared to IRS data show the true tax rate paid by the mega-rich.