Democrat presidential candidate Bernie Sanders said in a 2017 interview that he would “Absolutely” raise corporate tax rates.
Here’s the key exchange during the December 17, 2017 episode of CBS show Face The Nation hosted by John Dickerson:
Dickerson: “But there’s no question that in order to achieve all of the things you want taxes are going to have to go up on corporations. If they’re down to 21 as a result of this legislation, you can’t find the money anywhere else.”
Sanders: “Absolutely. Yes. In my view absolutely.”
Before President Trump signed the Tax Cuts and Jobs Act into law, the U.S. had the highest corporate tax rate in the developed world: 35 percent. The tax cuts permanently reduced the corporate tax rate to a more competitive 21 percent.
State corporate taxes average 6.0 percent across the U.S., so if Sanders reversed the tax cuts he would end up imposing a combined average corporate rate of 41 percent.
This would give the U.S. a much higher corporate tax rate than the United Kingdom (19 percent), China (25 percent), Canada (26.8 percent), and Ireland (12.5 percent). In fact, Sanders approach would impose a tax rate much higher than the current combined corporate rate across the 36 member Organisation for Economic Development and Cooperation (OECD), which is currently 23.7 percent.
An increase in the corporate tax rate would also directly raise the cost of utility bills in all 50 states.
Sanders joins fellow Democrats Kamala Harris, Joe Biden, Elizabeth Warren, Beto O’Rourke, and Amy Klobuchar in calling for a corporate tax rate increase.
See more:
Elizabeth Warren on Corporate Tax Cuts: “I really want to see them rolled back.”
Bill de Blasio Calls for Corporate Tax Rate Hike
Amy Klobuchar: Raise the Corporate Tax Rate to 25%
Biden on capital gains tax: “We should raise the tax back to 39.6 percent”
Kamala Harris Threatens to Repeal GOP Tax Cuts 3 Times in August
Joe Biden: “I’m going to eliminate most all” of GOP Tax Cuts
Cory Booker Calls for Repeal of “Toxic” GOP Tax Cuts
Marianne Williamson Joins Dems Calling for TCJA Repeal
Kamala Admits Her Plan Would End Employer Insurance
“Medicare for All” is a Middle Class Tax Increase, Say Dems
Elizabeth Warren Can’t Dodge the Middle Class Tax Question Forever
Dem Socialized Healthcare Plan Will Lead to Middle Class Tax Hikes
Supposed “Moderate” Democrat John Delaney Wants to Impose Carbon Tax on the American People
Klobuchar Suggests Capital Gains Tax Hike and “Doing Something” About TCJA
Kamala Harris Campaign Headquarters Located in Opportunity Zone Created by GOP Tax Cuts
Julian Castro: “We’re going to have to raise taxes.”
Biden and Harris: Raise the Corporate Tax Rate
Biden tweet: Ignore the fact I’ve already called for middle class tax hikes
Kamala Harris: “I Will Reverse” Trump’s Tax Cuts
Kamala Harris Calls for Repeal of Tax Cuts Four Times in Three Minutes
Julian Castro Caught Lying about GOP Tax Cuts
NYT: Bidencare Will be Funded by “rolling back” GOP tax cuts
Kamala Harris: I Will Repeal “That Tax Bill”
Cory Booker: “I do support” Imposing Carbon Tax on Americans
Harris: “We are Going to Repeal That Tax Bill”
Biden: I Will Raise Corporate Tax Rate to 28%
Kamala Harris Continues to Lie about Tax Cuts
Jay Inslee: “Repeal the Trump Tax Cuts”
Biden Running Ads to “Repeal Trump’s Tax Cuts.”
VIDEO: Ten Times Biden Threatened to Repeal Tax Cuts
Here’s what happens if Dems repeal tax cuts
VIDEO: 10 Times 2020 Democrats Have Threatened to Repeal TCJA
Kamala Harris: When I Enter Office “I Will Repeal” the TCJA
Biden: “First thing I would do as President is Eliminate the President’s Tax Cut.”
Bernie Sanders claims people would be “delighted to pay more in taxes”
Biden: Tax Cuts Will be “Gone” If I’m Elected
Kamala Harris: I Will Repeal Tax Cuts “on day one”
Biden again says capital gains tax is “Much too Low”
Biden: Capital gains tax “much too low”
VIDEO: Five Times Biden has Threatened to Repeal Tax Cuts
Biden: “First thing I’d do is repeal those Trump tax cuts.”
Joe Biden broke his middle class tax pledge
“Mayor Pete” Calls for Steep Tax Hike on Homes and Businesses
Kamala Harris Vows Repeal of Tax Cuts “on Day One”
Biden: “When I’m President, if God willing I am, we’re going to reverse those Trump tax cuts.”