{"id":801,"date":"2021-11-19T20:41:46","date_gmt":"2021-11-19T19:41:46","guid":{"rendered":"https:\/\/monblogeur.tech\/index.php\/2021\/11\/19\/amazon-facebook-other-large-firms-would-pay-more-under-proposed-minimum-tax-warrens-office-says-thehill-the-hill\/"},"modified":"2021-11-19T20:41:46","modified_gmt":"2021-11-19T19:41:46","slug":"amazon-facebook-other-large-firms-would-pay-more-under-proposed-minimum-tax-warrens-office-says-thehill-the-hill","status":"publish","type":"post","link":"https:\/\/monblogeur.tech\/index.php\/2021\/11\/19\/amazon-facebook-other-large-firms-would-pay-more-under-proposed-minimum-tax-warrens-office-says-thehill-the-hill\/","title":{"rendered":"Amazon, Facebook, other large firms would pay more under proposed minimum tax, Warren&#039;s office says | TheHill &#8211; The Hill"},"content":{"rendered":"<div class=\"cfbc967f0983488262956e73eca9483a\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3859091246952232\" crossorigin=\"anonymous\"><\/script>\r\n<!-- blok -->\r\n<ins class=\"adsbygoogle\" data-ad-client=\"ca-pub-3859091246952232\" data-ad-slot=\"1334354390\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n\n<\/div>\n<p>       &copy; 1998-2021 Nexstar Media Inc.<br \/>       All Rights Reserved     <br \/><span style=\"font-weight: 400;\">Amazon, Facebook and other large businesses would\u00a0pay more in taxes if a 15 percent minimum tax on\u00a0high-earning companies proposed by Democrats passed, <a href=\"https:\/\/www.warren.senate.gov\/imo\/media\/doc\/CPMT%20Report_11.16.21.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">according to a report<\/a>\u00a0released Thursday by\u00a0Sen. <span class=\"rollover-people\" data-behavior=\"rolloverpeople\"><a class=\"rollover-people-link\" data-nid=\"188179\" href=\"\/people\/elizabeth-warren\">Elizabeth Warren<\/a><span class=\"rollover-people-block\" id=\"rollover-people-188179\"><span class=\"rollover-block\"><span><img loading=\"lazy\" decoding=\"async\" typeof=\"foaf:Image\" src=\"\/sites\/default\/files\/styles\/thumb_100\/public\/article_images\/warrenelizabeth_013117vsj_lead.jpg?itok=5Q_vLrRG\" width=\"100\" height=\"100\" alt=\"\" \/><a class=\"name\" href=\"\/people\/elizabeth-warren\">Elizabeth Warren<\/a><a class=\"people-articles\" href=\"\/policy\/finance\/overnights\/582275-on-the-money\">On The Money \u2014 House Democrats ready to Build Back Better<\/a> <a class=\"people-articles\" href=\"\/homenews\/senate\/582223-warren-calls-for-investigation-into-planned-trump-spac-deal\">Warren calls for investigation into planned Trump SPAC deal<\/a> <a class=\"people-articles\" href=\"\/policy\/finance\/582212-amazon-facebook-other-large-firms-would-pay-more-under-proposed-minimum-tax\">Amazon, Facebook, other large firms would pay more under proposed minimum tax, Warren&rsquo;s office says<\/a> <a class=\"more\" href=\"\/people\/elizabeth-warren\">MORE<span><\/span><\/a><\/span><\/span><\/span><\/span>&lsquo;s (D-Mass.) office.\u00a0<\/span><br \/><span style=\"font-weight: 400;\">The proposal in question,\u00a0the text of which was\u00a0<a href=\"https:\/\/thehill.com\/policy\/finance\/578572-senate-democrats-propose-corporate-minimum-tax-for-spending-package\" target=\"_blank\" rel=\"noopener noreferrer\">released late last month<\/a>\u00a0by Warren, Senate Finance Committee Chairman <span class=\"rollover-people\" data-behavior=\"rolloverpeople\"><a class=\"rollover-people-link\" data-nid=\"188175\" href=\"\/people\/ron-wyden\">Ron Wyden<\/a><span class=\"rollover-people-block\" id=\"rollover-people-188175\"><span class=\"rollover-block\"><span><img loading=\"lazy\" decoding=\"async\" typeof=\"foaf:Image\" src=\"\/sites\/default\/files\/styles\/thumb_100\/public\/wydenron_071117kc_lead.jpg?itok=cRuTsCq-\" width=\"100\" height=\"100\" alt=\"\" \/><a class=\"name\" href=\"\/people\/ron-wyden\">Ronald (Ron) Lee Wyden<\/a><a class=\"people-articles\" href=\"\/policy\/energy-environment\/582301-senate-confirms-park-service-director-after-years-of-acting-heads\">Senate confirms Park Service director after years of acting heads<\/a> <a class=\"people-articles\" href=\"\/policy\/finance\/582212-amazon-facebook-other-large-firms-would-pay-more-under-proposed-minimum-tax\">Amazon, Facebook, other large firms would pay more under proposed minimum tax, Warren&rsquo;s office says<\/a> <a class=\"people-articles\" href=\"\/homenews\/senate\/581972-manchin-signals-hes-okay-with-biden-spending-vote-this-year\">Manchin signals he&rsquo;s OK with Biden spending vote this year<\/a> <a class=\"more\" href=\"\/people\/ron-wyden\">MORE<span><\/span><\/a><\/span><\/span><\/span><\/span> (D-Ore.) and Sen. <span class=\"rollover-people\" data-behavior=\"rolloverpeople\"><a class=\"rollover-people-link\" data-nid=\"188268\" href=\"\/people\/angus-king\">Angus King<\/a><span class=\"rollover-people-block\" id=\"rollover-people-188268\"><span class=\"rollover-block\"><span><img loading=\"lazy\" decoding=\"async\" typeof=\"foaf:Image\" src=\"\/sites\/default\/files\/styles\/thumb_100\/public\/angus_king.jpg?itok=I4K7tCTu\" width=\"100\" height=\"100\" alt=\"\" \/><a class=\"name\" href=\"\/people\/angus-king\">Angus King<\/a><a class=\"people-articles\" href=\"\/policy\/finance\/582212-amazon-facebook-other-large-firms-would-pay-more-under-proposed-minimum-tax\">Amazon, Facebook, other large firms would pay more under proposed minimum tax, Warren&rsquo;s office says<\/a> <a class=\"people-articles\" href=\"\/policy\/cybersecurity\/582077-senators-look-to-defense-bill-to-move-cybersecurity-measures\">Senators look to defense bill to move cybersecurity measures<\/a> <a class=\"people-articles\" href=\"\/policy\/energy-environment\/581877-energy-information-chief-blames-market-for-high-fuel-prices\">Energy information chief blames market for high fuel prices <\/a> <a class=\"more\" href=\"\/people\/angus-king\">MORE<span><\/span><\/a><\/span><\/span><\/span><\/span> (I-Maine), would\u00a0apply to\u00a0all companies that\u00a0report\u00a0more than $1 billion in profits to shareholders.<\/span><br \/><span style=\"font-weight: 400;\">The report from Warren&rsquo;s office said the proposal, known as the Corporate Profits Minimum Tax, would\u00a0raise $319 billion in taxes over the next 10 years. <\/span><br \/><span style=\"font-weight: 400;\">The tax is\u00a0included as a funding source\u00a0in\u00a0Democrats&rsquo; $1.75 trillion social spending package.<\/span><br \/><span style=\"font-weight: 400;\">The report noted that its analysis, which examined the potential impact of the\u00a0proposal on 70 companies, showed that if the 15 percent minimum tax was implemented, those businesses would pay up to $22 billion\u00a0more than they do under the current tax rate\u00a0\u2014 in a single year.<\/span><br \/><span style=\"font-weight: 400;\">Per the report, in 2020\u00a0Amazon had an annual profit of\u00a0about $24.2 trillion and paid roughly $2.8 trillion in taxes. Estimates found that, if the proposed tax were implemented, the company would have paid an additional $836 million.<\/span><br \/><span style=\"font-weight: 400;\">Meanwhile,\u00a0<\/span><span style=\"font-weight: 400;\">in 2020 Facebook had an annual profit of about $33.2\u00a0trillion and paid $4.5 trillion, according to\u00a0the report.\u00a0It would have paid an added $469 million under the tax proposal.<\/span><br \/><span style=\"font-weight: 400;\">In the case of T-Mobile US, which reported an annual profit last year of $3.5 trillion\u00a0and\u00a0received a tax refund of $7 million, the report found that under the\u00a0proposed tax\u00a0the company\u00a0would have paid $537 million in added taxes, for a $544 million gain in tax revenue.<\/span><br \/><span style=\"font-weight: 400;\">\u201cBillionaire corporations have gotten a free ride in America for too long. It\u2019s time to stop letting giant corporations cheat the system \u2014 they should pay taxes just like everyone else,\u201d Warren\u00a0<a href=\"https:\/\/www.warren.senate.gov\/newsroom\/press-releases\/new-report-from-senator-warren-tax-dodgers-how-billionaire-corporations-avoid-paying-taxes-and-how-to-fix-it\" target=\"_blank\" rel=\"noopener noreferrer\">said in a statement <\/a>upon the release of her report. \u201cMy Corporate Profits Minimum Tax would help put an end to tax-rigging schemes and raise billions in revenue so we can make real investments in American families.\u201d<\/span><br \/><span style=\"font-weight: 400;\">The Hill has reached out to Amazon, Facebook and T-Mobile US for comment.<\/span><br \/><a href=\"http:\/\/thehill-v4.disqus.com\/?url=https%3A%2F%2Fthehill.com%2Fpolicy%2Ffinance%2F582212-amazon-facebook-other-large-firms-would-pay-more-under-proposed-minimum-tax\">View the discussion thread.<\/a><br \/>The Hill 1625 K Street, NW Suite 900 Washington DC 20006 | 202-628-8500 tel | 202-628-8503 fax<br \/>The contents of this site are &copy; 1998 &#8211; 2021  Nexstar Media Inc. | All Rights Reserved. <\/p>\n<p><a href=\"https:\/\/thehill.com\/policy\/finance\/582212-amazon-facebook-other-large-firms-would-pay-more-under-proposed-minimum-tax\">source<\/a><\/p>\n<!--CusAds0-->\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>&copy; 1998-2021 Nexstar Media Inc. All Rights Reserved Amazon, Facebook and other large businesses would\u00a0pay more in taxes if a 15 percent minimum tax on\u00a0high-earning companies proposed by Democrats passed, according to a report\u00a0released Thursday by\u00a0Sen. Elizabeth WarrenElizabeth WarrenOn The Money \u2014 House Democrats ready to Build Back Better Warren calls for investigation into planned [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow1sXXCw:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-801","post","type-post","status-publish","format-standard","hentry","category-non-classe"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/posts\/801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/comments?post=801"}],"version-history":[{"count":0,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/posts\/801\/revisions"}],"wp:attachment":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/media?parent=801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/categories?post=801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/tags?post=801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}