Republicans claim that Corporations are people. So why isn’t the Alternative Minimum Tax Rate for Super-Rich corporations making MORE THAN A BILLION DOLLARS A YEAR at the same tax rate as middle class taxpayers? As it is, the current corporate tax rate of 21% is 1% LESS than the tax rate of a middle class person making 40,525 per year. Those middle class taxpayers pay 22%.
Instead moderate Democrats and Maine’s pretend Independent, Angus King, are getting rolled for 15%, which is just 3% more than a person in poverty making less than 10,000 per year. Are we really supposed to get excited that these super rich corporations making over a BILLION will pay the same rate as people in poverty!! Really?
To put this current standard corporate tax rate of 21% that these super rich corps are not even paying in perspective, the top Corp. rate was 46% in 1980, before Reagan’s tax RATE cuts on the super rich caused a radical decline in the middle class, and caused radical deficits, debt, and interest payments on that GOP debt.
Tax Brackets for Individuals based on income earned in 2021
- 37% for incomes over $523,600 ($628,300 for married couples filing jointly)
- 35% for incomes over $209,425 ($418,850 for married couples filing jointly)
- 32% for incomes over $164,925 ($329,850 for married couples filing jointly)
- 24% for incomes over $86,375 ($172,750 for married couples filing jointly)
- 22% for incomes over $40,525 ($81,050 for married couples filing jointly)
- 12% for incomes over $9,950 ($19,900 for married couples filing jointly)
- 10% for incomes up to $9,950 ($19,900 for married couples filing jointly)
