We pay for these investments are future by finally making the wealthiest
and biggest corporations began to pay their fair share.
Begin.
Capitalist.
I'm a capitalist, but pay your fair share.
I think a lot of you at home.
A lot of you at home, agree with me and many people that you know.
The tax system is not fair.
It is not fair.
The idea.
That in 2020.
55 of the largest corporation in America. The fortune 500.
Made $40 billion in profits and paid zero in federal taxes.
Zero.
Folks.
It's simply not fair.
But now because of the law, I sign billion dollar companies have
to pay a minimum of 15%. God love them.
15%
The nurse.
Crystal clear. I said at the very beginning.
Under my plans. As long as I'm president, nobody earning less than
$400,000 will pay an additional penny in taxes. Nobody, not one penny.
Let's finish the job. There's more to do.
Mr Ward work, not just wealth.
Past my proposal for the billionaire, minimum tax, you know?
There's 1000 billionaires in America. It's up from about 600 beginning
of term.
But no billionaire should be paying a lower tax rate than the school
teacher, a firefighter.
Me.
Think about it.
And all. You are not enthusiastic about that. But think about it.
Think about it.
Have you noticed Big oil just reported his profits record profits.
Last year, they made $200 billion.
In the midst of a global energy crisis.
I think it's outrageous.
Why
Invested too little of that profit increased domestic production.
And when I talked to a couple of they say, we're afraid you're going
to shut down all the oil wells all the oil refineries anyway, so
why should we invest in them?
I said, we're going to need oil for at least another decade.
And that's going to exceed
And beyond that
We're going to need it.
Production
if they have, in fact invested in the production to keep gas prices
down. Instead, they use the record profits to buy back their own
stock.
Rewarding the CEOs and shareholders.
Corporations ought to do the right thing.
That's why I propose we quadruple attacks on corporate stock buybacks
and encourage long
term investment.
Considerable profit.
Let's finish the job and close the loopholes allow very wealthy to
avoid paying their taxes. Instead of cutting the number of audits
for wealthy taxpayers. I just signed a lot to reduce the deficit
by $114 billion by cracking down on wealthy tax cheats.
Fiscally responsible.
The last two years.
My administration has cut the deficit by more than $1.7 trillion.