Democratic presidential hopeful Bernie Sanders introduced a plan on Monday that would reverse President Donald Trump’s tax cuts for businesses and return the corporate tax rate to 35% from its current 21%.
The
Corporate Accountability and Democracy Plan would also eliminate many of the tax breaks and loopholes in the tax code and do away with off-shore tax havens.
The senator is also calling to democratize corporate boards, ban stock buybacks and diversify corporations.
The detailed plan includes these highlights, according to
the campaign website:
- Nearly half of the board of directors in any large corporation with at least $100 million in annual revenue, corporations with at least $100 million in balance sheet total, and all publicly traded companies would be directly elected by the firm’s workers.
- They would be required to consider the interests of all of the stakeholders in a company – including workers, customers, shareholders and the communities in which the corporation operates.
- Large-scale stock buybacks would be “treated like stock manipulation” via repeal of the Securities and Exchange Commission’s Rule 10b-18.
- Rules would be developed to diversify corporate boards “ensuring a significant portion of every board be comprised of people from historically underrepresented groups.” ...................And they would require every ........................... ”
................... When asked if VP son’s were considered “historically underrepresented”. Bernie responded .......... “ only if they have been kicked out of the service and with no prior experience”
