Financing For Sanders’ Plan To Expand Medicare To All Is Not Yet Clear
USA Today examines the Democratic presidential candidate's tax proposals. Also, the announcement of a blockbuster merger involving a U.S. and Irish firm drew comments from some candidates.
Tax Impact Of Sanders' Proposals Still Up For Debate
Sen. Bernie Sanders says if he's elected president, he'll expect the wealthiest Americans to start paying their “fair share” of taxes. Exactly what that means is still largely unknown. So far, the Vermont independent has proposed raising nearly $6 trillion in revenue from corporations, Wall Street speculators and the wealthy to rebuild crumbling infrastructure, provide free college tuition, expand Social Security and finance other programs. But Sanders still hasn't provided details of his two most ambitious proposals— Medicare-style health care for everyone, and universal child care — or said how much he would raise income tax rates to pay for them. (Gaudiano, 11/23)
Drug Merger Unleashes Dem Fury — And More Calls For Tax Reform
Pfizer’s blockbuster $160 billion merger with Irish pharmaceutical maker Allergan is stoking the partisan debate on corporations that move their headquarters overseas to lessen their U.S. tax bills — with Democrats like Hillary Clinton quickly condemning the deal while Republicans called it a symptom of a broken tax code. The deal "will leave U.S. taxpayers holding the bag," Clinton said in a statement Monday, calling on Congress to limit corporations’ ability to use the tax-limiting maneuver known as an inversion. (O'Donnell, 11/23)
Democrats — And Trump — Oppose Pfizer Merger
The Democratic Party’s field of presidential candidates is united in opposition to the massive merger between pharmaceutical giant Pfizer and Allergan, which would also include a controversial maneuver known as a tax inversion to reduce the company’s U.S. tax burden. And they’re finding an unlikely ally in GOP pack-leader Donald Trump. ... “The fact that Pfizer is leaving our country with a tremendous loss of jobs is disgusting,” Trump said in a statement to Business Insider. Other Republicans haven’t spoken out about the deal. In the past, however, they have tended to cite inversions as evidence of the need to reduce the corporate tax rate, not as an example of corporate greed. (Seitz-Wald, 11/23)