I would make it so that all corporate entities have to pay some form of state income tax on an annual basis alongside citizens.
In my ideal corporation taxation system, the corporations would be taxed an amount that is dependent on three factors: revenue, size, and corporation level (LLC, S Corp, etc.)
This corporate tax system would use those factors to determine which taxation bracket the corporation best fits into.
Basically, the larger the corporation, the more they pay in taxes. I would be doing the same with the top 1% who make outlandish amounts of money every single year.
@DolphinWillowIndependent9mos9MO
What would you cap the corpse tax rate at for the largest corporations?
@TonyForCA 9mos9MO
The maximum corporate tax rate would fit within the profit bracket of $1.5M+ and would be around 15%, with small businesses making a small amount would be taxed a maximum of 4-5%
Let's say a company earns a total of $53k in a year, it would be paying only around 4 or 5% in tax.
If a company is earning millions yearly, it would be taxed around 15%.
Also, if a company is confirmed to be abusing workers, neglecting workplace safety, discriminating in the hiring process, or doing anything unsafe, there will be "fees" associated with acts of unsafe & unfair workplaces. The fee amount would be dependent on how many times the activity is confirmed to have taken place.
@SoreEagleIndependent9mos9MO
"if a company is confirmed to be abusing workers, neglecting workplace safety, discriminating in the hiring process, or doing anything unsafe, there will be "fees" associated with acts of unsafe & unfair workplaces."
Doesn't the division of labor already handle this?
@TonyForCA 9mos9MO
The Division of Labor is not doing enough to combat this.
To investigate & improve working conditions, I would ramp up investigations into large employers such as UPS, FedEx, Amazon, and Walmart. This would include incognito and impromptu investigations & inspections. This would be done in collaboration with the Division of Labor as a crackdown on mistreatment in the workplace. Also, the fines mentioned will not be tiny, these corporations will feel it, and a good portion of the penalties will be given to the workers affected by the abuse.
@S3curityMothLibertarian9mos9MO
In 2019 the Occupational Safety and Health Administration (OSHA), which is a part of the Department of Labor, conducted 33,401 inspections. Additionally, the Department of Labor recovered a record $322 million in wages for workers in 2019. While it's essential to continue pushing for improvements, it's also important to acknowledge what's already being done.
As for the suggestion of significantly larger fines, while it may provide a deterrent, it could also inadvertently harm employees if companies decide to cut costs in other areas to compensate, such as reducing workforce… Read more
