The first $2 trillion will come from a hike on corporate taxes, “that would raise the necessary sum over 15 years and then reduce the deficit going forward,” according to the White House. That includes going back to the 28% rate from the 21% percent rate that was set in 2017. It also has a new global minimum tax of 21%, which would help keep companies from shifting profits overseas to save taxes.
For the record, Psaki noted that almost 20% of Fortune 500 companies pay zero dollars in taxes. That includes Netflix, Amazon, Chevron, Delta Airlines, General Motors, Halliburton, and others.
