Amplify: President Biden’s Plan to Make Big Corporations Pay Their Fair Share
As President Biden noted in his State of the Union address, many of the wealthiest Americans and 55 of America’s largest corporations pay little or no federal income taxes.
No more. It’s time for corporations and the wealthy to pay their fair share. The Biden tax plan would:
Highlights
Raise the corporate tax rate to 28% and establish a minimum corporate tax of 21%.
Impose a 21% tax on corporate income sheltered overseas.
Create a Minimum Tax on Billionaires, requiring them to pay at least 25% in taxes.
For those making more than $400,000 per year, raise the top tax rate from 37 to 39.6%, and impose higher Social Security taxes to help keep Medicare solvent.
Not impose one additional penny of taxes on anyone making less than $400,000 per year.
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