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Warren Pushes New Corporate Tax on Profits Above $100 Million

  • Presidential candidate seeks to stake out progressive ground
  • In a crowded Democratic field, a detailed proposal may help
Elizabeth Warren
Elizabeth WarrenPhotographer: Scott Eisen/Bloomberg
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Democratic presidential candidate Elizabeth Warren rolled out a proposal on Thursday to levy a 7 percent tax on corporate profits above $100 million, which if enacted would raise an estimated $1 trillion from the country’s wealthiest businesses.

There would be “no loopholes or exemptions” for the so-called Real Corporate Profits Tax, Warren said. It would be paid on top of what corporations owe under U.S. tax law and apply to profits earned domestically and abroad, preventing companies from shifting profits offshore to avoid the tax.