Corporate greed has rank amok in the country. For far too long our tax system has been grossly skewed in favor of the rich and the powerful. Americans deserve a tax system that rewards hard work and benefits middle-class Americans who have been under assault by those with powerful connections.
The wealthy have options for shifting how they make money and where they keep it, and thus how they pay taxes. At a time of record profits for corporations and those on Wall Street, it’s long overdue for those individuals and entities to pay their fair share and contribute to the country that has allowed them to thrive.
Isiah will fight to make our tax system more transparent and fairer by:
Increasing taxes on wealthy individuals and Corporations.
Ending the rule allowing American corporations to defer paying federal income taxes on profits of offshore subsidiaries.
Preventing American companies from avoiding U.S. taxes by corporate inversions
Close loopholes that allow U.S. corporations to artificially inflate or accelerate foreign tax credits.
Ending all tax breaks for fossil fuel companies.
Eliminating the cap on taxable income that goes into the Social Security trust fund.
Preventing corporations from avoiding U.S. taxes by claiming to be a foreign company through the establishment of a post office box in a tax haven country.
Raising the capital gains tax from 20% percent to 37 %.
Raising the estate tax (which benefits fewer than1 in 1,000 Americans) from 40% back to 55%.
Reinstating the Glass-Steagall Act.
Expanding the income threshold to qualify for the earned income tax credit for childless workers from $14,340 to $25,000 and from $19,680 for childless married couples to $35,000.
Increasing the earned income tax credit to $4,500 per child.
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