Posted 4 years ago on July 13, 2013, 3:13 p.m. EST by BradB
from Washington, DC
This content is user submitted and not an official statement
According to Sen. Sander’s website, he has laid out a tax plan that would make the tax code easier to understand and also make sure corporations are paying their “fair share”. So let’s take a look at his proposals and see how they actually benefit the middle class and working poor.
“Stop large corporations from stashing their profits in the Cayman Islands and other offshore tax havens to avoid paying U.S. taxes. Legislation already introduced by Sanders would raise more than $590 billion over the next decade.”
~ Raising $590 billion in 10 years is not a ‘little’ amount. This would help cover the costs of SNAP. As of 2012, the total cost of the SNAP program was $78,436,790. So, over a decade (if this cost stays the same or about the same) SNAP will cost 790 million. Yes, million, not billion. So just not allowing the corporations to harbor their money overseas will help feed the needy with tons of money left over.
“Establish a Wall Street speculation fee to ensure that large financial institutions pay their fair share in taxes. A speculation fee of 0.03 percent on the sale of credit default swaps, derivatives, options, futures, and large amounts of stock would reduce gambling on Wall Street, encourage the financial sector to invest in the productive economy, and reduce the deficit by $352 billion over 10 years.”
~ This will help create regulation on Wall St. and hold them responsible if they gamble away our hard earned money.