Sanders tax plan would strip 2017 overhaul, hike minimum wage to $15

Oct. 14, 2019

Oct. 14 (UPI) — Democratic presidential candidate Bernie Sanders unveiled a tax reform plan Monday that would overturn wholesale changes to the U.S. code made by President Donald Trump’s administration nearly two years ago, and restore the corporate tax rate to 35 percent.

Sanders outlined the move in a proposal titled “Corporate Accountability and Democracy Plan,” which would eliminate tax breaks and loopholes in the Trump tax code and do away with off-shore havens. The changes enacted in 2017 set the corporate tax rate at 21 percent.

“We will give workers an ownership stake in the companies they work for, break up corrupt corporate mergers and monopolies and finally make corporations pay their fair share,” the plan states.

Sanders, who is presently recovering from a heart attack, revealed the plan one day before the fourth Democratic debate in Ohio. Recent polling shows a slight decline for Sanders among Democratic voters, perhaps due to the health scare.

“For too long, these greedy corporate CEOs have rigged the tax code, killed market competition, and crushed the lives and power of workers and communities across America,” Sanders’ plan says.

“Year after year we’ve seen wages slashed and thousands of workers laid off, all while the richest corporate CEOs pay themselves huge bonuses. They got away with it through a broken campaign finance system, where a few large campaign donations can get you the ear of any politician.