Tax Foundation Analyzes Warren’s Corporate Profits Tax

Tax Foundation Analyzes Warren’s Corporate Profits Tax

Tax Foundation

A proposal by Sen. Elizabeth Warren, D-Mass., to levy a 7 percent tax on a corporation’s profits after the first $100 million would reduce long-run output, decrease wages, and shrink the economy over the next decade, but would also raise federal revenue by $476 billion on a dynamic basis and make the tax code more progressive, the Tax Foundation said.

A proposal by Sen. Elizabeth Warren, D-Mass., to levy a 7 percent tax on a corporation’s profits after the first $100 million would reduce long-run output, decrease wages, and shrink the economy over the next decade, but would also raise federal revenue by $476 billion on a dynamic basis and make the tax code more progressive, the Tax Foundation said.

A <a href="/lr/resolve//29cdg">proposal</a> by Sen. Elizabeth Warren, D-Mass., to levy a 7 percent tax on a corporation’s profits after the first $100 million would reduce long-run output, decrease wages, and shrink the economy over the next decade, but would also raise federal revenue by $476 billion on a dynamic basis and make the tax code more progressive, the Tax Foundation said in an April 18 report.

A proposal by Sen. Elizabeth Warren, D-Mass., to levy a 7 percent tax on a corporation’s profits after the first $100 million would reduce long-run output, decrease wages, and shrink the economy over the next decade, but would also raise federal revenue by $476 billion on a dynamic basis and make the tax code more progressive, the Tax Foundation said in an April 18 report.