The Rational Progressive

Menu
  • World
  • Palestine
  • LNAC
  • TRP Social Timelines
  • Congress
  • The White House
  • State Government
  • Economy
Menu

Democratic Senator Floats Plan To Raise $200 Billion By Closing Corporate Tax Loopholes

Posted on February 5, 2013 by TRP

carl-levin

A Democratic Senator wants to raise $200 billion over ten years by closing corporate tax loopholes, according to Bloomberg News. Sen. Carl Levin (D-MI) wants to ditch a slew of goodies for corporations, as well as a loophole that allows wealthy money managers to pay far less in taxes than middle-class families:

Senator Carl Levin’s push to close tax loopholes will target corporate deductions for stock options and rates on investment income known as carried interest, seeking to raise at least $200 billion by one estimate.

In a memo to Democratic Senate committee leaders on Friday, the Michigan Democrat described proposals to end what he called excessive corporate tax deductions, scrap the blended tax rate for derivatives such as commodity futures and strengthen enforcement of the tax code, Bloomberg BNA reported.

The plan is estimated to raise at least $200 billion over 10 years, according to a person with knowledge of the details.

MORE:  Democratic Senator Floats Plan To Raise $200 Billion By Closing Corporate Tax Loopholes | ThinkProgress.

 

 


 

Comments



RECENT

  • (no title) Post 50939
  • Malema on Unification
  • A Note to the Radical (Bernie) Left
  • Bernie Still Can’t Win
  • Welcome to the Fun House

VIDEO


Tweets by @USARPP
©2025 The Rational Progressive | WordPress Theme by SuperbThemes