Joe Biden: “I will reform corporate tax so that they pay their fair share”

Joe Biden: “I will reform corporate tax so that they pay their fair share”

In addition to businesses, the President wants to tax the richest 1% of Americans.

In addition to businesses, the President wants to tax the richest 1% of Americans.

This April 28, 2021, Joe Biden gave his first speech as president to the US Congress. This is how he wants to fight economic inequalities in the United States.

“The economy from above has never worked”

In his speech, President Biden reiterates his campaign promises regarding the country’s tax policy. In particular, he promises no tax hikes to people earning less than $ 400,000 a year. On the contrary, the time has come, according to him, for American companies and the richest 1% to start “to pay their fair share“.

Companies that escape tax

Joe Biden also denounces certain inherent flaws in the country’s tax system. Last year, 55 of the country’s largest companies paid no federal income taxes while making more than $ 40 billion in profits.

In addition to these companies, there are those which transfer their profits abroad, such as Switzerland or the Cayman Islands. Reform proposals with, at the end of the day, millions of jobs that will generate “historic economic growth ”.