Democratic presidential candidate Elizabeth Warren wants to raise $1 trillion in revenue with a new 7% tax on corporate profits over $100 million
April 11, 2019 at 09:00 AM EDT
The surtax would prevent Amazon and other companies with profits exceeding $100 million from wiping out their tax liabilities. Instead of taxable corporate income as defined by the IRS, the 7% surtax would apply to profits companies report to their investors.