Sen. Elizabeth Warren (D-MA) is proposing a 15% minimum tax for corporations earning over $1 billion in profits.
A <a href="https://www.warren.senate.gov/imo/media/doc/CPMT%20Report_11.16.21.pdf">report</a> from the progressive lawmaker’s office argued that large companies have “rigged” the tax code, permitting armies of accountants to avoid paying federal taxes:
<blockquote>In 2020, DISH Network — one of the most profitable companies in the United States — reported $2.6 billion in global profits and paid their founder and chairman almost $95 million. But the company paid no federal income tax and even received a $231 million tax refund from the U.S. government. That same year, the massive defense conglomerate Northrop Grumman made $3.7 billion. Its effective tax rate? 6.7% — less than one-third of the statutory corporate tax rate of 21%.</blockquote>
The “Corporate Profits Minimum Tax” would therefore channel profits toward the Biden administration’s domestic agenda:
<blockquote>In addition to making our tax code fairer, the CPMT will generate $319 billion over the next decade to invest in the American economy and support America’s workers and families. The CPMT is a core component of President Biden’s Build Back Better agenda, and requiring these companies to pay their fair share in taxes will help fund transformative investments in our country: universal pre-K, child-care, paid leave, tax credits for families, expanded Medicare coverage, and more.</blockquote>
Among the 70 eligible companies identified by the report are Amazon, Apple, Bank of America, Facebook, Google, Microsoft, Nvidia, PayPal, and Salesforce. 
During The Wall Street Journal’s CEO Council Summit, Tesla and SpaceX chief executive Elon Musk <a href="https://www.dailywire.com/news/elon-musk-government-is-simply-the-biggest-corporation-with-the-monopoly-on-violence">presented</a> the opposite view — that the government is incapable of effectively using resources toward productive ends.
“It does not make sense to take the job of capital allocation away from people who have demonstrated great skill in capital allocation, and give it to an entity that has demonstrated very poor skill in capital allocation, which is the government,” he commented. “Government is simply the biggest corporation, with the monopoly on violence.” 
Earlier in the summit, Musk explained that the Senate should not pass the Build Back Better Act — the pending $1.75 trillion bill mentioned by Warren. 
“I would say can this bill, don’t pass it. That’s my recommendation,” <a href="https://www.dailywire.com/news/elon-musk-trashes-bidens-build-back-better-plan-can-this-bill-dont-pass-it">argued</a> Musk. “If this bill happens or doesn’t happen, we don’t think about it at all really. Honestly it might be better if the bill doesn’t pass.”
The Build Back Better Act also incorporates $80 billion in funding for the Internal Revenue Service — which includes the hiring of 87,000 more IRS agents and more than 1.2 million new federal tax audits each year. A report from Republican members of the House Ways &amp; Means Committee <a href="https://www.dailywire.com/news/americans-twice-as-likely-to-experience-irs-audits-thanks-to-biden-spending-plan">notes</a> that Americans would therefore be twice as likely to experience IRS audits should the provision become law.
“Nearly half of these audits — over 583,000 — would be on Americans making up to $75,000 a year,” says the report. “Even the lowest income Americans would see more audits with a quarter of these audits — over 313,000 — hitting Americans making up to $25,000 per year. This also will mean more than 800,000 more federal tax liens on taxpayer property such as homes and vehicles.”

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Elizabeth Warren Argues For New Corporate Tax To Fund Biden’s ‘Build Back Better Agenda’

CONTINUE READING

Bud Light Sales Continue To Plummet, May Soon Lose Status As Number-One Beer

‘Profoundly Christian’: Former Head Of Anglican Church Presses British Government To Endorse Assisted Suicide

Ben Shapiro Reacts To Debt Limit Deal, Hits Both Democrats And Republicans Over Spending Habits

‘The Chosen’ Defends Pride Flag Spotted On Set: ‘Let The Show Speak For Itself’

Chick-Fil-A Faces Backlash As Their Diversity Efforts Resurface, Other Woke Brands Take Beating

North Korea Sentenced Two-Year-Old To Life In Prison After Family Caught With Bible: State Department

News and Commentary

Build Back Better

Elizabeth Warren

Taxes

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News and Commentary —

Elizabeth Warren Argues For New Corporate Tax To Fund Biden’s ‘Build Back Better Agenda’