Sanders Intros Revival of 95% Windfall Profits Tax From WWII to Curb Corporate Greed

[Uncle Joe]

(snip)

The bill—spearheaded by Sanders (I-Vt.), Sen. Ed Markey (D-Mass.), and Rep. Jamaal Bowman (D-N.Y.)—is inspired by previous windfall profits tax plans implemented during World Wars I and II as well as the Korean War. During WWII, Sanders' office noted, "the tax rate reached as high as 95%, which ensured that companies could not profiteer off the war."

(snip)

"The American people are sick and tired of the unprecedented corporate greed that exists all over this country. They are sick and tired of being ripped off by corporations making record-breaking profits while working families are forced to pay outrageously high prices for gas, rent, food, and prescription drugs," Sanders said in a statement.

The Senate Budget Committee chair argued that "we cannot allow Big Oil companies and other large, profitable corporations to continue to use the war in Ukraine, the Covid-19 pandemic, and the specter of inflation to make obscene profits by price gouging Americans at the gas pump, the grocery store, or any other sector of our economy."

"During these troubling times, the working class cannot bear the brunt of this economic crisis, while corporate CEOs, wealthy shareholders, and the billionaire class make out like bandits," he added. "The time has come for Congress to work for working families and demand that large, profitable corporations make a little bit less money and pay their fair share of taxes."

(snip)

https://www.commondreams.org/news/2022/03/25/sanders-intros-revival-95-windfall-profits-tax-wwii-curb-corporate-greed

[onecaliberal]

1. I know of two reasons why this won't pass and we can't blame repukes.

[Chainfire]

2. It does not benefit the wealthy, it won't pass.

[KPN]

3. Thank you Bernie for pursuing this. Gotta love

Bernie’s undaunted commitment and spirit.

And thank you Uncle Joe for posting this. Important stuff!

[twodogsbarking]

4. Too few have the money of too many.

Wealth redistribution in some form is possible and wouldn't be a bad thing.
Bernie isn't out of line.

[wackadoo wabbit]

5. Go, Bernie! /nt