Elizabeth Warren to propose minimum tax on ‘real corporate profits’

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Elizabeth Warren is expected to propose a minimum tax on the profits of the richest companies in the US, no matter what they claim to owe the federal government. The Massachusetts Democrat’s “real corporate profits tax” was a central part of her 2020 presidential campaign and is designed to stop company’s using loopholes and other ways of minimising tax owed to the federal government – many pay no federal income tax at all. “It’s not socialism – it’s an attempt to have a fair tax at a pretty low level for companies that would otherwise pay zero.” Senator Warren is passionate about both corporations and individuals paying their fair share of tax She recently took aim at Amazon founder Jeff Bezos, saying that if the richest man in the world could afford to go to space, he could afford to “pitch in” and pay more in taxes. She later tweeted from her official Senate account: “Billionaires who can afford to take a 10-minute joyride to outer space can afford to pay a wealth tax here on Earth.”