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Bernie Sanders proposes 95% tax on big corporations. The unconstitutional nature of Federal taxes.

Updated: May 8, 2022


Sanders Wants 95% Windfall Tax on Large Companies to Cut High Prices (businessinsider.com)


On Friday, March 25th, 2022, Bernie Sanders introduced the “Ending Corporate Greed Act.” Proposing a 95% tax on big companies. The tax would apply to their annual revenue in the form of “windfall profits.” These windfall profits will be based on an average 5-year profit level prior to the “pandemic”


95% tax rate from the federal government. Who in their right mind proposes a bill that only allows any company to keep only 5% of their profits? Bernie Sanders does.

His tax proposal would be in place from 2022-2023. Where he claims that it will bring in close to $400 billion in just one year.


Another windfall tax proposal from Rep. Khanna (California) and Sen. Sheldon Whitehouse (Rhode Island) would specifically target oil and gas companies. Which would seem like a logical thing to do right now considering inflation and the cost of oil. Insert sarcasm. With gas prices already soaring, our great leaders see it fit to tax oil and gas companies at 95% of their profits. Let’s just keep raising those gas prices until the market crashes and American citizens are left to either fend for themselves or rely on the Federal Government to bail them out. You catch the hint there?

So, what are windfall profits?




Windfall profits are large, unexpected gains resulting from lucky circumstances. One of the easiest ways to explain windfall profits in simple terms. Is to identify with the individual. A good example of what would be considered windfall profits on an individual basis. Would be something like winning the lottery, inheriting money or selling a collectable around your home for profit. Unexpected gains from lucky circumstance. On a corporate level, it could just mean something as simple as obtaining more profit than the year prior. Unexpected gains. Or selling a sister company. Again, unexpected gains.


Imagine that you are the family member of someone serving in our military. I’m a veteran. And I had what was called Servicemembers’ Group Life Insurance (SGLI). If anything were to happen to me while I was serving, my listed beneficiary would receive $400,000 in SGLI according to how I allocated it. That is considered a windfall profit. Could you imagine taxing SGLI at 95% because it is considered a windfall profit. And holding you accountable for that money for 2 years. Which you will pay taxes accordingly? $330 thousand of that would go to the federal government so that you could pay your “fair share”

Imagine just selling a collectable around your house for $200,000 and the government hits you with a windfall tax of 95%. You would pay $190 thousand to the federal government.



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So, what is in the proposed “Ending Corporate Greed Act”?




The proposed act is literally only a page long. And takes 2 seconds to read. It starts out by stating:

“President Biden was right to impose a ban on Russian oil in response to Putin’s murderous invasion of Ukraine. But let’s be clear. We cannot allow big oil companies and other large, profitable corporations to use Putin’s war, the COVID-19 pandemic, and the specter of inflation to price gouge Americans at the gas pump, the grocery store, or any other sector of our economy”


Political theatrics? First of all, no, Biden was not correct in imposing sanctions on Russian oil when Russia is one of the countries that we count on for our oil. We imported 209,000 barrels of oil a day from Russia in 2021. That is 76.285 million barrels of oil a year. Small number compared to what we consume on a yearly basis. But that is still 76 barrels of oil the United States does not have. And we only produce roughly 11 thousand barrels a day. And those numbers are questionable.


I won’t even get into the fact that NATO and the EU are responsible for the events that are taking place in Ukraine. Maybe he should focus more on what our bio-labs in Ukraine are doing. Which I covered in a 4-part series you can check out on YouTube.

https://www.youtube.com/channel/UCIlhGEI6SSBSFlM9yD4oNkg