Democratic candidates in the 2020 field are suggesting changes to two venerable American institutions, the Electoral College and the Supreme Court. WSJ's Gerald F. Seib explains. Photos: GettyWASHINGTON—Democratic presidential candidate Elizabeth Warren is proposing a new 7% tax on the largest, most profitable U.S. companies, a move that would increase corporate tax collections by about 30% over the next decade. Her Real Corporate Profits Tax, projected to raise $1 trillion over a decade, would apply to profits above $100 million each year, and it would be based on the world-wide posttax income companies report on their financial statements. The new levy, affecting about 1,200 companies, would come on top of the...

Source: Wall Street Journal April 11, 2019 12:56 UTC