Raising taxes will stifle business investment, economic policy analyst says

Former Vice President Joe Biden released a tax plan this week to raise $3.2 trillion in taxes over 10 years. The proposal calls for an increase on the corporate tax rate from 21 percent to 28 percent as well as capital gains tax. This increase would pay for the proposed climate change, infrastructure, higher education and healthcare.

Earlier this year, the former vice president criticized Amazon’s $0 federal tax bill in 2018 and said no company making billions in profits should pay a lower tax rate than firefighters and teachers.

Policy proposals have differed widely among Democrats vying to win their party’s nomination to face U.S. President Donald Trump in the November 2020 election.

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