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    Common Dreams. To inform. To inspire. To ignite change for the common good.
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    Common DreamsTo inform. To inspire. To ignite change for the common good.

    corporate taxes

    Mayoral Candidate Zohran Mamdani Campaigns In NYC On Primary Day

    Mamdani Won the Primary; Now What?

    Usually, such a great primary win in overwhelmingly Democratic New York City guarantees a smooth path to a November win against a Republican opponent. Not this time.

    Ralph Nader
    Jun 28, 2025

    People are asking about my reaction to Zohran Mamdani’s spectacular and decisive upset in the Democratic primary victory for Mayor of New York over ex-Gov. Andrew Cuomo. Mamdani’s victory was so overwhelming that Cuomo conceded generously, saying that Mamdani ran a “…highly impactful campaign…” “He deserved it. He won.”

    Here are my observations:

    Keep ReadingShow Less
    affordable housing
    zohran-mamdani
    Warren Buffett raises his arms.

    The Tax Foundation’ Misleading Math Overstates How Much Billionaires Really Pay

    By taking into account corporate taxes while ignoring corporate income, the foundation’s methodology drives up effective income tax rates for the super rich only because these rich happen to own a massive amount of corporate stock.

    Bob Lord
    Mar 04, 2025

    An income tax rate of over 100% would be hard for anyone to sustain. At a rate a smidge over 100%, our deepest pockets might be able to get by if they drew down their wealth or borrowed against it. But keeping up, year in and year out, with an income tax rate of over 1,000%, 10 times income? That seems, on its face, totally implausible.

    Yet the Washington, D.C.-based Tax Foundation would have us believe Warren Buffett did just that for at least five years running, all while enormously growing his own personal wealth.

    Keep ReadingShow Less
    tax the rich
    taxation
    Monopoly card that reads: "Pay Your Taxes So Corporations Don't Have To"

    Minnesota Democrats Show It's Possible to Curb Tax Avoidance by Corporations

    The state-level approach sends a clear signal that the days may be coming to an end when big multinationals can scare state lawmakers into allowing them to game the tax system.

    Matthew Gardner
    Jul 09, 2023

    Earlier this year, Minnesota lawmakers came within a whisker of enacting a sorely needed corporate tax reform that would have insulated the state from the corrosive effect of offshore corporate tax dodging. This reform, known as worldwide combined reporting, is the gold standard for corporate tax sustainability at the state level. The state’s near miss, and the second-best solution Minnesota ultimately enacted this year, known as GILTI (the Global Intangible Low Taxed Income provision), each provide a blueprint for the loophole-closing strategies that other states should prioritize.

    The goal and strategy of worldwide combined reporting are simple: the goal is to prevent large multinational corporations from artificially shifting their income out of the U.S. and into foreign tax havens, and the strategy is to require big multinationals to include all their income—from the biggest nation to the smallest foreign tax haven – in one big pot before determining Minnesota’s proper share of worldwide income.

    Keep ReadingShow Less
    itep
    taxation
    Then-President Donald Trump jokes with Republican lawmakers

    34% of Big, Profitable US Corporations Paid $0 in Federal Taxes in 1st Year of Trump Tax Law

    "Instead of cutting vital and popular programs like Social Security and Medicare, we need to repeal the Trump tax breaks for the rich and demand that the largest corporations in America finally start paying their fair share of taxes," said Sen. Bernie Sanders.

    Jake Johnson
    Jan 13, 2023

    A study released Friday by the Government Accountability Office found that more than a third of large, profitable corporations in the United States paid nothing in federal income taxes in 2018, the year the regressive Trump-GOP tax cuts took effect.

    The GAO analysis, commissioned by Sen. Bernie Sanders (I-Vt.), showed that "average effective tax rates—the percentage of income paid after tax breaks—among profitable large corporations fell from 16% in 2014 to 9% in 2018."

    Keep ReadingShow Less
    bernie sanders
    trump-tax-cuts

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