Clinton Offers Idea of New Tax Credit for Certain Businesses

While democrats and republicans will continue to fight it out over taxes and how to improve our economy, especially during the run-up to the presidential election, the battle generally stays the same. Democrats want to take more money, especially from the wealthy, and the republicans want to keep more money in taxpayers’ wallets. Surprisingly, however, democratic frontrunner, Hillary Clinton recently proposed a tax credit for businesses.

Of course there is a catch, but anytime a democrat offers a tax credit to wealthy corporations it’s newsworthy. According to reports, Clinton says that in an effort to convince corporations to share more of their profits with their employees she would offer these companies a tax credit. The proposal would give businesses a tax credit that was good for two years, which would be the equivalent of 15 percent of profits that were distributed to employees. The credits would be capped at 10 percent of wages.

It’s estimated that the credits would cost $10 – $20 billion over a 10 year period. Shutting off corporate tax loopholes would reportedly be the means for paying for the credits. Corporations would only be eligible if their profit sharing was more than existing wages and benefits. Despite the proposed tax credit to businesses, her republican rivals were quick to counter that Ms. Clinton is a face of the past and a perfect example of what’s wrong in the Nation’s capitol. It remains to be seen if the proposals will pass but of course, first, Ms. Clinton will have to be elected. That won’t be determined for more than a year. Stay tuned.

Posted in
Could the Wealthy Still Pay Obamacare Tax After Trump Plan Replacement?

Could the Wealthy Still Pay Obamacare Tax After Trump Plan Replacement?

Could the Wealthy Still Pay Obamacare Tax After Trump Plan Replacement? It’s now June and the fight over the nation’s healthcare bill is still ongoing. It’s not that lawmakers aren’t trying to get something done that would ultimately replace Obamacare, but as with most things in Washington, it’s a slow-moving process. The House’s first attempt…

New Health Care Plan Could Be a Huge Boost to the Wealthy

New Health Care Plan Could Be a Huge Boost to the Wealthy

New Health Care Plan Could Be a Huge Boost to the Wealthy Out with the old and in with the new. You might say that has been the calling card of the new presidential administration since Donald Trump took office. From immigration reform to healthcare, and from tax reform to federal government budget cuts, the…

What Type of Person Should Every Business Leader Hire?

What Type of Person Should Every Business Leader Hire?

What Type of Person Should Every Business Leader Hire? As a business leader you have a lot of responsibilities. In fact, depending on your exact position in the company you work for, you might be the one responsible for all the major decisions that have to be made. As an effective and successful leader, you…

Can You Get a Worthwhile Education at an Affordable Price?

Can You Get a Worthwhile Education at an Affordable Price? It’s no secret that getting a college education is expensive. While some students are fortunate enough to earn a scholarship, most students have to find other means to pay for their schooling. Tuition alone is a significant commitment, not to mention all the other expenses…