Last week, Senator Warren unveiled the Accountable Capitalism Act, setting off a firestorm of controversy. By and large, the responses have been all over the map, ranging from an argument that it will help companies do better for all constituencies, including shareholders, to the hyperbolic assertion that it would “help to destroy capitalism.”
I haven’t read the bill super-carefully (in fact, I mostly skimmed it late last night), but a Twitter discussion got me thinking about its potential tax consequences.
Or is the main lever on taxes? That in order to get more favorable corporate tax treatment (as compared to partnership or individual income taxes) you have to comply. If so,what a mess.
— Eric Shytle (@EricShytle) August 18, 2018