The president of his country spoke about the tax increase for rich Americans that his government is planning. USA stressing “I have nothing against millionaires and billionaires” while criticizing the fact that companies like Amazon do not pay a single cent in federal income tax.
«I believe in American capitalism“, He assured his audience in a speech in Pittsburgh, Pennsylvania, during which he announced an investment plan of about 2 trillion dollars over a period of 8 years for the modernization of infrastructure.
THE Joe Biden intends to increase corporate taxation to 28%, while it was reduced from 35% to 21% during the presidency of former President Donald Trump.
This increase in taxation will allow the financing of investments.
“It was 35%, which was too high. “We all agreed five years ago that this percentage should be reduced to 28%”, he stated as broadcast by the Athens News Agency on Wednesday (31/3).
“No one should protest,” he said, noting that the rate was “always lower than it was between World War II and 2017.”
According to the American president, the increase of this percentage to 28% will bring $ 1 trillion in additional revenues for the state in a period of 15 years.
“In 2019, an analysis by an independent organization revealed that there were 91, I insist, 91 companies that belonged (…) to the largest companies in the world, including Amazon“They used various legal tricks and did not pay a single cent of federal income tax,” he noted.
“I do not want to punish them,” he said, adding that “this is not normal.”
The US president also expressed his dissatisfaction that a teacher is subject to a tax rate of 22% at a time when “Amazon and others do not pay any federal tax.”
“I want to put an end to this,” he concluded.
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