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Sanders rolls out 'Bezos Act' that would tax companies for welfare their employees receive [View all]
https://www.marketwatch.com/story/sanders-rolls-out-bezos-act-that-would-tax-companies-for-welfare-their-employees-receive-2018-09-05New legislation rolled out by Sen. Bernie Sanders on Wednesday would tax corporations for the federal benefits their employees receive.
The legislation, introduced by both the Vermont independent as well as Rep. Ro Khanna, a California Democrat, is aimed at companies including Amazon AMZN, -0.35% , Walmart WMT, -0.46% and United Airlines UAL, +0.83% that employ low-paid employees.
Not so subtly, it was named by Sanders the Stop Bad Employers by Zeroing Out Subsidies, or BEZOS Act. Jeff Bezos is the founder and chief executive of Amazon. (The House version is called the Corporate Responsibility and Taxpayer Protection Act of 2017.)
The bill would establish a 100% tax on companies equal to the benefits their employees are receiving. Covered public assistance program include Medicaid, Section 8 housing, the Supplemental Nutrition Assistance Program and the National School Lunch and School Breakfast programs, for companies with more than 500 employees.
The legislation, introduced by both the Vermont independent as well as Rep. Ro Khanna, a California Democrat, is aimed at companies including Amazon AMZN, -0.35% , Walmart WMT, -0.46% and United Airlines UAL, +0.83% that employ low-paid employees.
Not so subtly, it was named by Sanders the Stop Bad Employers by Zeroing Out Subsidies, or BEZOS Act. Jeff Bezos is the founder and chief executive of Amazon. (The House version is called the Corporate Responsibility and Taxpayer Protection Act of 2017.)
The bill would establish a 100% tax on companies equal to the benefits their employees are receiving. Covered public assistance program include Medicaid, Section 8 housing, the Supplemental Nutrition Assistance Program and the National School Lunch and School Breakfast programs, for companies with more than 500 employees.
Unfortunately this would just mean companies would avoid hiring people with kids.
If I were to vote in a presidentialprimary today, I would vote for: Joe Biden
56 replies
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