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

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President Joe Biden cited a recent report from a left-leaning think tank that indicated 55 large US companies paid no federal income tax last year.
Biden forcefully defended his proposed corporate tax hike, while saying he was open to a compromise.

He said he's "sick and tired of ordinary people being fleeced" while large firms get away with little or no income taxes.

Biden cited a recent report that indicated 55 large US companies paid no federal income tax last year.

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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. He also assailed the benefits showered onto the highest-earning Americans under the Trump administration's 2017 tax cuts.

"I didn't hear any of our friends, who are criticizing this plan, say that the corporate tax cut, which added $2 trillion to the debt.. wasn't paid for, the vast majority of which went to the top 1 percent of the wage earners," Biden said of Republicans.

He went on: "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…
Joseph Zeballos-Roig
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