I think a big part of making the tax system fair is about how the IRS enforces the tax laws that are already on the books.
Elizabeth Warren
The Public Record
Elizabeth Ann Warren is an American attorney, academic, and politician serving as the senior United States senator from Massachusetts since 2013. A member of the Democratic Party, she has been a prominent advocate for consumer protection, economic equality, and corporate regulation. Warren gained national recognition for her work in establishing the Consumer Financial Protection Bureau and has focused on issues such as student debt relief and healthcare reform during her tenure in the Senate.
Wow! A billion-dollar loophole that does not require the company to do anything differently, just file some paperwork.
If enacted, the law would generally impose an annual 2 percent wealth tax on the net value of a taxpayer's total assets above $50 million.
As President Biden has said, we have firemen and teachers paying 22 percent, while these giant companies pay nothing. That is wrong.
I am working with my colleagues, including Chair Wyden, on a bill that strengthens IRS enforcement.
Whenever the discussion comes up--that we must close the tax gap. Make people pay their fair share, something usually gets lost.
profitable corporations that report low or no tax liability are engaged in aggressive tax avoidance.
We want to make sure they have enough money to be able to go after the complicated tax schemes that the wealthy are able to use, and the big corporations.
The truth is, the rich have run amok over the last 50 years of American history, and our government's willing complicity in their antics has permitted a handful of egregiously wealthy human beings to accumulate massive, budget-warping…
As these numbers show, our Nation can do both--invest in American families, and pay for it without raising taxes on those same families.
So our rigged tax code allows big corporations to report enormous profits to their shareholders, and at the same moment report little or no profits to the IRS.
I am extremely confident that the proposed ultra-millionaire tax, as implemented by Treasury, would do much, much better than our existing income tax at measuring and valuing and enforcing wealth, or the true economic resources of…
Given how far we have let this inequality grow, I do not see how we can address this problem other than with a wealth tax.
The tax system has been tilted towards the wealthy and powerful for far too long.
If you want to keep your American citizenship, you pay the wealth tax and it doesn't matter where you put your assets.
A wealth tax would impose an annual 2-cent tax on fortunes bigger than $50 million.
I understand that you object to my calling people who do not pay the taxes that are legally owed 'tax cheats.'
I'm disappointed that Mr. Cooperman decided he was more comfortable taking softball questions on cable news than subjecting his views to debate in the U.S. Senate.
The rich may have run amok. They have run amok for the last 50 years of American history.





