• Biden wants a 28% corporate tax rate because he's 'sick and tired of ordinary people being fleeced'

    5 days ago - By Business Insider

    Summary List Placement President Joe Biden made a forceful pitch for his massive infrastructure package on Wednesday, arguing his proposed 28% corporate tax hike would level the playing field between large companies and average Americans.
    "I'm not trying to punish anybody, but dammit - maybe because I come from a middle class neighborhood - I'm sick and tired of ordinary people being fleeced," Biden said in an afternoon speech.
    The president also blasted companies that pay little or no federal taxes without naming them. He cited a recent report from the left-leaning Institute on Taxation...
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  • Biden Says He's ‘Willing To Negotiate' 28% Corporate Tax Rate Hike

    Biden Says He's ‘Willing To Negotiate' 28% Corporate Tax Rate Hike

    5 days ago - By Forbes

    He added that “we've got to pay” for his multitrillion-dollar infrastructure spending plan somehow.
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  • Biden starts selling major corporate tax hikes while opening the door to a compromise

    5 days ago - By Business Insider

    President Joe Biden meets with Treasury Secretary Janet Yellen in the Oval Office at the White House in Washington, January 29, 2021.
    Kevin Lamarque/Reuters
    The Biden administration just released a sales pitch for its proposed corporate tax hikes.
    They project raising $2.5 trillion over 15 years to finance the entire proposed infrastructure package.
    Administration officials are already saying they could compromise on raising the corporate tax rate to 28%.
    See more stories on Insider's business page .
    The Biden administration unveiled a proposal for a series of corporate tax hikes on...
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  • Biden Unveils Plan to Raise Corporate Taxes

    5 days ago - By NY Times

    The tax plan would raise the corporate tax rate to 28 percent from 21 percent to help fund the president's economic agenda.
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  • Biden administration makes pitch for higher business taxes

    5 days ago - By Chron

    The Biden administration is drilling down on the argument that higher corporate tax rates would ultimately help an ailing economy, saying the resulting infrastructure investments would boost growth.
    Treasury Secretary Janet Yellen said Wednesday it was “self-defeating” for then-President Donald Trump to assume that cutting the corporate tax rate to 21% from 35% in 2017 would make the economy more competitive and unleash growth. Yellen said that competing on tax rates came at the expense of investing in workers.
    “Tax reform is not a zero-sum game,” she told reporters on a call. “Win-win is...
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