Salon: Elizabeth Warren cornered by billionaire: “I shouldn’t get Social Security”

According to the senator’s website, the law would require that corporations making over $100 million in yearly profits would pay a 7% tax on any money made after the $100 million cutoff.

These corporations, she told Langone, “should have to pay a tax on what they report. Not on what happens after they’ve done a zillion loopholes and excuses and not paid their underlying taxes.”

Last year, the Institute on Taxation and Economic Policy reported that 55 of the largest corporations in America collectively paid $0 in federal corporate income taxes as a result of various tax avoidance schemes.

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