Posted on 12/18/2020 6:45:49 PM PST by E. Pluribus Unum
A plan by Tulsi Gabbard (D-HI) would redirect excess profits from multinational corporations allowed to remain open during the Chinese coronavirus crisis to small businesses that have been forced to close due to economic shutdowns.
Gabbard released legislation on Friday, known as the Pandemic Crisis Excess Profits Tax, to ensure that corporations such as Amazon, Facebook, Walmart, and Google are not profiting off economic shutdowns that have helped clear the market of their competition.
“Big tech corporations and big-box retailers are among those who have made excessive profits during the COVID-19 pandemic, while mom and pop shops are being forced to close their doors due to government-mandated restrictions,” Gabbard said in a statement.
The legislation — first adopted during World War I and World War II to prevent corporations from profiting off the wars — would add a 95 percent tax on corporations’ excess profits calculated by subtracting their 2020 gross earnings from their average gross earnings from 2016 to 2019, before the coronavirus.
Big tech & big box retailers are seeing windfall profits & will emerge from this crisis stronger than ever at the expense of small businesses who are bearing the brunt of gov restrictions. I introduced HRes 1267 that will tax 95% of excess profits to support small businesses… pic.twitter.com/XjCKazW30d
— Tulsi Gabbard 🌺 (@TulsiGabbard) December 18, 2020
The corporations’ excess profits would then be directed to aid struggling small businesses that have been forced to close their doors due to economic shutdowns while giant conglomerates have been allowed to conduct business as usual. Gabbard said:
Because of this, these large corporations will be better positioned with a competitive advantage over small businesses in a post-pandemic economy. Congress must reinstate the WWII-era excess profit tax used at that time to prevent war-time profiteering, and dedicate the funds...
(Excerpt) Read more at breitbart.com ...
In the debates, Tulsi attacked every candidate - except Biden.
What was up with that?
I don’t see Biden giving her a job.
No....no.
Lift the bogus lockdowns.
Now.
You’re right.
The only way that happens is if we start terminating some of the lockdowners with extreme prejudice.
Look at the destruction that has been allowed to happen to the greatest economy of our lifetimes.
Well Tulsi is sure going down swinging. Of course her demands are going nowhere. I guess she can now claim she was for this or that when she runs for some other office in 2/4 years.
No it doesn’t.
“excess profits” are a Marxist term to justify theft.
Give businesses the freedom to open and pursue happiness.
This makes no sense. End the lockdowns! It’s a hoax!
No, what we need to do is redirect profits from rich Democrats to the middle and working class. They want socialism make them live up to there own stated opinions(not that they really believe that).
Bull crap. Open the smaller businesses too. This is Marxist command and control insanity.
Makes sense? No. No form of government from those who have to those who need makes sense, ever. Never mind that there is no delegated power for the federal or many States to do this.
Ending the shutdowns entirely makes sense. Using repurposed inexpensive medicines that are known to be effective makes sense.
But power grabs by the government, both to shut people down and to get people ready to line up for ever more handouts ... that doesn’t make sense.
I like it.
I know price gouging is against the law in Alabama during a state of emergency — hurricanes, etc. Why are Amazon sellers allowed price gouging during a national crisis? They have been absolutely horrible during the pandemic. Amazon and their sellers should be put on trial for it.
People in this state get heavily fined and go to jail for it if they do it. Amazon should have to play by the same rules.
You’re right. I said so a couple of posts ago.
The lockdown has given us Technocrats-Gone-Wild.
They are never going to give up their power.
Unless we can make them fear for their lives.
First problem....define excess profits. The sole purpose of a business is to return the maximum profit it can to its shareholders.
Second problem....anything proposed by a dim is never a short term fix. IF this got on the books it would stay on the books. Then the dims would forever be determining which company was making too much and which one wasn't.
It's just another disguised attempt by the dims to get more control over businesses in this country.
Redirect all politicians’ [they cause this after-all] Income to support those businesses and employees that they have chosen to shut down through their fascist, tyrannical actions.
Correct, but “government preference profits” might be an accurate description of what Amazon and Walmart received...and those preferences must be undone.
Some sort of word went out ahead of time? The debates were a charade?
I’m stunned at how stupid some “conservatives” are not to recognize what this ploy is all about.
> “excess profits” are a Marxist term to justify theft <
You beat me to it.
From each, according to their ability. To each, according to their need.
Golly, that Marx guy was really on to something!!
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