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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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