Democrat Gov. Candidate Andrew Gillum Seeking 40 Percent Corporate Tax Hike in Florida – IOTW Report

Democrat Gov. Candidate Andrew Gillum Seeking 40 Percent Corporate Tax Hike in Florida

Newsmax: The Democratic nominee for Florida governor, Tallahassee Mayor Andrew Gillum, has a plan to raise the state’s corporate tax rate by about 40 percent, a proposal resurfaced by Americans for Tax Reform (ATR).

Gillum first announced his plan to raise the corporate tax rate from 5.5 percent to 7.75 percent in January, but ATR dug it up after his upset victory in the state Democratic primary on Tuesday.

In a post on Medium, Gillum wrote that 90 percent of Florida-based corporations “pay no state corporate income tax,” and the ones that do only pay 5.5 percent, “lower than ruby red bordering conservative states Alabama and Georgia.”

According to Gillum, “by adjusting our state corporate tax level to a modest 7.75 percent, which still allows corporations in Florida a massive tax cut and keeps our rate more than 1 percent lower than California, we will be able to recoup at least $1 billion back from the richest corporations and put it where we need it most — investing in our future.”  more here

17 Comments on Democrat Gov. Candidate Andrew Gillum Seeking 40 Percent Corporate Tax Hike in Florida

  1. …. we will be able to recoup at least $1 billion back from our richest corporations and put it where we need it most –
    BUYING VOTES.

    You can’t ‘recoup’ what you never had.

    All money belongs to government and the deep thinkers should be in charge of how much of other people’s money they can keep and to whom the spoils of theft are allocated.

    This guy has no chance of winning.
    Right? RIGHT???

    12
  2. This maroon has not learned: If taxes are raised, gummit money decreases. If taxes are lowered,the opposite happens.President Trump just proved that again! This buffoon does not even pay attention!

    6

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