WASHINGTON—President Biden is calling for $2 trillion in corporate tax increases over 15 years to pay for his infrastructure plan. Here are the, which reverses many of the changes from the 2017 tax law written and passed by Republicans.
The proposals released on Wednesday hew closely to Mr. Biden’s campaign tax plan. But they don’t include his proposals affecting taxes on high-income individuals’ income, capital gains, estates and noncorporate businesses. Those are expected in a future segment of the president’s agenda.Not counting the Biden plan, corporate taxes are projected to be 1.3% of gross domestic product over the next decade, according to the Congressional Budget Office. This plan would add 0.
Good. Get them to pay more taxes. Massive ceo payouts could come done a lot.
This plan is a VERY bad idea!!!! Economy is to fragile!!!!
Ironically, the spreading of wealth creation will dramatically increase the consumer base that will generate more income for corporations and the wealthy even if they have give up a little of present tax benefits. The recent Rand study documented the benefit of progressive taxes
So what is the increase each year? Doesn't sound like enough to cover the increases in their profits each year. They won't feel it at all. But we still will.
well，is this socialism？
Trump approach was to incentivize private companies to build. Biden just puts us farther into debt and steals from the successful. Pathetic.
Yes. Corporations and wealthy people are bad. Everyone should willing pay their far share. Whatever that means.
Reading what the WSJ say is an exercise in futility. Read what the Economist or any other serious, credible paper says.
Great 👍🏾
Most will go into friends pockets
Never seen a Poor Man hire anybody. Thank God for those who refuse to live in mediocrity.
This is good for the economy, and good for the American worker. Smart, well run companies will survive without predatory tax evasion or paying starvation wage, and the worst offenders will die.
Much needed. We must become more fiscally sustainable to ensure lasting growth. This starts with a return of collecting sufficient corporate tax revenues.
America last!!
The “Details”? ... If something you’re about to eat doesn’t smell right, would you eat it? The details of Biden’s agenda stink.
Corporations won’t pay, it’s passed onto the consumer
Awesome mr president
I don't think he's taxing them enough.
Taxes!
Yes! It’s time. The 1% will get it all back plus some due to the economic boom this will cause.
I’m sure that all the major league sports, actors/music entertainers and silicon techsters are just itching to stroke a check. Just let them know how much you need and have them Venmo it to DC. No need for a tax increase, they’re ready to pay up.
👍👍
This will certainly have no negative impact on the individuals who work at, invest in, or purchase goods and services from these companies 🙄
Every four to eight years we gotta spend trillions to pay for some fucking idiots agenda
Ha ha....take that to all of you trolls out there that call the Democrats the “tax and spend” party.
We still have the Reparation's bill to get done. That's another $12-20 Trillion. There's more after that.!!!
Next republican president will repeal all the Tax Hikes. We're all screwed no matter how you look at it
With Amerca having the largest Conglomerates in the World this is easy peasy
Weaken USA further
Corporations don't pay taxes, people do. End product users and stockholders will pay those taxes.
As an investor, I can confidently say that I fully support it
Rubbish!
Over 15 years? President Biden. We will not see it happen. Not enough, Mr President.
JeffBezos elonmusk MikeBloomberg and others should just help pay for it.
the plan is in service to the global elite, to reduce American companies competitive ability and bankrupt America so democratic freedom n entrepreneurship culture can be replaced with authoritarian socialism and bureaucracy culture
Good
Big corporations can afford a lot more and not even feel it. As major beneficiaries of the wealth this country affords them, they should be eager to help.
the democrat's goal is for government to be the ceo of every business in America
Nice.
good
President Biden, lmao!!!! This is a bad joke.
When Keystone pipeline was shutdown, Biggs complained of job loss. Now we have a proposal for enormous job creation Biggs hates it. Only because Trump talked of it and did nothing. Now Biden is fully proposing it and Biggs hates it. Where did he think the money comes from.
Biden wants to eliminate stepped up basis on Capital Gains, which will destroy the middle class and eliminate most middle class families generational wealth.
Great job Wall Street journal make the average person pay to read the article on the taxes that they're going to pay it's like another tax on top of the Beijing Biden China Joe Humpty Hunter tax bill.
This is quite possibly the worst method to generate $2 trillion. Business investment is critical to national growth and American innovation.
It’s economy, stupid!
Instead of hammering corporations are millionaires are billionaires we should be concentrating on stopping the financial leaks out of heart taxpayer accumulated money like $116 billion that we lose every year! All the money we need without damaging corporations
Why even bother with the charade of taxes
The temporary corporate tax hike is better than expected. But the infrastructure program should emphasize the long term benefits to the economy and reduce the unnecessary spending. The cost has better be justified.
Pretty easy to do when you’re his age and you’ll be long gone before this agenda gets funded. At his age and his physical state he most likely doesn’t have another 15 years in him.
More Taxes only to finance Free citizenship and benefits for waves of illegal imigration using children as a tool.
Wouldn't the corporations need to be making more money? Like, if The W/H counterfeits off of real situations how can they make money at that rate? Half closed. Work not get paid -- signed The U.S. politicians.
No thanks
Well...this will fun.
OmG bUt HoW WiLL tHE RiChES tRiCkLe DoWn?
This will lead to reduced or eliminated raises, increased layoffs, reduced hiring & increased product costs. I work in corporate America. If you think that these companies won’t force their employees & customers to absorb these added costs, you’ll be in for a shocking surprise.
I don't need to see the details to understand that this will slow my investments and 401k. The end result being the delay of my retirement!
Lots of people will lose their jobs if the rich get taxed higher. If you know economics you know this is a really stupid move
Corporate war
Tax them!! They can literally afford it
Dead on arrival.
I wonder what the total number is when you combine this corporate tax increase with the wealthy private citizens' tax increase. Would be nice if it was enough to chip away at the National Debt, and not just enough to cover this plan.
Will JB be a good potus
Theft!!!!
What does he think is going to happen to the value of the USD? This is a basic level of economics that is widely misunderstood by the left.