this post was submitted on 19 Aug 2024
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politics

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Harris proposes raising the corporate tax rate to 28%, rolling back a Trump law (www.nbcnews.com)
submitted 3 months ago by usernamesAreTricky@lemmy.ml to c/politics@lemmy.world
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[–] FrowingFostek@lemmy.world 6 points 3 months ago (2 children)

I saw a video about this. I think the next step would be heavier taxes on the corporations that do this kind of stuff.

Then a nationalization of the physical means of that corporation that the entity leaves behind.

"If they leave we just make it work without them, we are American, we can do anything." -some dude on the internet

[–] Kecessa@sh.itjust.works 8 points 3 months ago (2 children)

Force companies that want to operate in your country to report sales made in your country so they're taxed on the revenues, kick em out if they don't report them.

[–] FrowingFostek@lemmy.world 5 points 3 months ago

Sounds good to me. I like the idea of making corporations do what we want. I have very little concern for the freedoms of businesses.

[–] coffee_with_cream@sh.itjust.works 1 points 3 months ago (1 children)

Thank you for the reply! What would this look like realistically? I.e.: Google doesn't comply. Do we build our own Chinese internet where you can't use Google products?

[–] baronvonj@lemmy.world 2 points 3 months ago (1 children)

Uh .. doesn't China actually do that already?

[–] coffee_with_cream@sh.itjust.works 1 points 3 months ago

Yep! And people in China VPN around it

[–] coffee_with_cream@sh.itjust.works 2 points 3 months ago* (last edited 3 months ago) (1 children)

Thanks for the reply! Would this work for tech companies? Biggest part of our Sp500. They're mostly "in the cloud" right? So it's pretty easy to move. And physical resources they leave behind would just be some data centers or whatever

Would love to see the video you mentioned if you can find it

[–] FrowingFostek@lemmy.world 3 points 3 months ago (1 children)

I imagine it would work much the same way taxing any service industry would.

I wont pretend to understand how the sp500 calculates its value. I personally think the stock market is all smoke, mirrors & vibes. Tech still needs patents and copyrights, a likely vector of attack for a willing government I imagine.

Unfortunately, I have a vague memory of the video maybe its this one?

[–] coffee_with_cream@sh.itjust.works 2 points 3 months ago (1 children)

Thank you for sharing the video! I will take a look 🤠

[–] FrowingFostek@lemmy.world 2 points 3 months ago

Absolutely, it was a delight speaking with you. Enjoy the rest of your day friend.