- 15 Mar 2021 21:44
#15161275
I support Biden's attempts at raising taxes on the wealthy and corporations. We need to get deficits under control and raise taxes to pay down the national debt.
https://www.cnn.com/2021/03/15/politics ... index.html
Kate Sullivan and Jason Hoffman of CNN wrote:The White House is looking to fulfill one of President Joe Biden's campaign promises by raising taxes for the wealthy and on corporations, White House press secretary Jen Psaki affirmed on Monday.
Psaki said at a White House briefing that Biden believes that "those at the top are not doing their part" and "obviously that corporations could be paying higher taxes."
Biden put forth several proposals during his presidential campaign that would raise taxes for the wealthy and on corporations by reversing some of the tax cuts that President Donald Trump signed into law in 2017.
Treasury Secretary Janet Yellen on Sunday suggested a tax hike could be on the horizon when she said she expects the White House to put forward proposals over time to get deficits under control.
"(Biden) hasn't proposed a wealth tax but he has proposed that corporations and wealthy individuals should pay more in order to meet the needs of the economy, the spending we need to do, and over time I expect that we will be putting forth proposals to get deficits under control," Yellen told ABC.
Then-candidate Biden proposed raising the top federal tax rate from 37% to 39.6%, its pre-Trump level. Under his plan, the corporate tax rate would rise from 21% to 28%. He would also establish a 15% minimum book tax and tax increases on international profits.
https://www.cnn.com/2021/03/15/politics ... index.html
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