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Biden's corporate tax plan takes aim at income inequality

Donald Trump Joe Biden Ronald Reagan Usa Washington president inequality
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WASHINGTON – From John Kennedy to Ronald Reagan to Donald Trump, American presidents have taken aim at corporate America's tax-avoidance schemes before — and mostly missed.

Now, President Joe Biden is training the government’s sights again on the loopholes, shelters and international havens that have long allowed multinational companies to dodge taxes in ways that ordinary households cannot.

The idea is twofold: First, to help pay for Biden's trillions in proposed spending — for everything from roads and bridges and green energy to internet access, job training, preschool and sick leave.

And second, to shift more of the federal tax load onto companies and narrow America's vast income inequality. Affluent investors reap the biggest windfalls

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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