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Tax Reform

Our tax system has been grossly skewed in favor of corporations and the rich and powerful. Americans deserve a tax system that rewards working class people. At a time of record profits for corporations, it’s time to close loopholes to ensure they pay their fair share.

Create a Fair & Transparent Tax System:

  • End rules allowing corporations to defer paying federal income taxes on profits of offshore subsidiaries.
  • Prevent companies from avoiding taxes through corporate inversions.
  • Close loopholes that allow corporations to artificially inflate or accelerate foreign tax credits.
  • End all tax breaks for fossil fuel companies.
  • Eliminate the cap on taxable income that goes into the Social Security trust fund.
  • Prevent corporations from avoiding American taxes by establishing headquarters in tax haven countries.
  • Raising the capital gains tax from 20 percent to 37 percent.
  • Re-institute a 55 percent estate tax on the wealthiest Americans.
  • Reinstate the Glass-Steagall Act that separates commercial and investment banking.
  • Lower the income threshold for Earned Income Tax Credits:
  • From $14,340 to $25,000 for workers without children
  • From $19,680 to $35,000 for married couples without children.
  • Increase the earned income tax credit to $4,500 per child.

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