Sen. Elizabeth Warren is unveiling a new way to tax corporations: Take them at their word.
Due to the vagaries of American
corporate accounting, companies routinely tell investors on conference
calls that they made billions in profit over the previous quarter, then
turn around and tell the IRS that, actually, they made no money at all,
so they don’t owe any taxes. Warren’s plan would tax those companies on
the profits they claim publicly.
Publisher: The Intercept | Author: Aida Chavez