"Corporate Accountability on the Horizon: New York Lawmakers Weigh Billionaire Tax In a move aimed at reining in corporate wealth, New York lawmakers are debating a bill that would impose a new tax on companies with significant net income. The proposed legislation would require businesses with a net income of $5 million or more to reduce their profits and redistribute a portion of their wealth to the state. Proponents argue that this 'billionaire tax' would help address income inequality and generate much-needed revenue for public services. However, critics warn that the tax could stifle business growth and drive companies out of the state, sparking a heated debate over the role of government in regulating corporate profits."
New York lawmakers are considering a bill that would require companies with net income of $5 million or more to reduce… The post Brickbat: Not Fantastic appeared first on Reason.com.
