h2ofun
Active Member
At the end of the day, they are all the same, whether at the time they put a D or R on their title. All smoke screensHouse Democrats are scared to tax billionaires – that’s a costly mistake | Robert Reich
You might also have assumed Democrats would target America’s biggest corporations, awash in cash but paying a pittance in taxes. Thirty-nine of the S&P 500 or Fortune 500 paid no federal income tax at all from 2018 to 2020 while reporting a combined $122bn in profits to their shareholders. But remarkably, House Democrats have decided to set corporate tax rates below the level they were at when Barack Obama was in the White House. Democrats even kept scaled-back versions of infamous corporate loopholes such as private equity’s “carried interest”. And they retained special tax breaks for oil and gas companies.
Republicans sold their souls to the moneyed interests long ago, but the timidity of House Democrats shows just how loudly big money speaks these days even in the party of Franklin D Roosevelt.