Joe Biden on Corporations
Former Vice President; previously Democratic Senator (DE)
BIDEN: Just take a look at what is the analysis done by Wall Street firms, points out that my economic plan would create 7 million more jobs than his in four years. It would create an additional $1 trillion in economic growth, because it would be about buying American. The federal government spends $600 billion a year on everything from ships, to steel, to buildings and the like. I'm going to eliminate a significant number of the taxes. I'm going to make the corporate tax 28%. It shouldn't be 21%. You have 91 companies [in] the Fortune 500, who don't pay a single penny in tax making billions of dollars.
We've eaten a lot of our seed corn here. The ability for us to use levers that were available before have been used up by this godawful tax cut of $1.9 trillion. We're going to have to not only deal with the immediate crisis, economic crisis, which is the most critical now to let people know their mortgages are going to be paid, their rents are going to be paid, they're going to have childcare, they're going to make sure that all their medical bills are cared for. We have to go beyond that.
BIDEN: What would I do with them? I would make sure they stop. If you demonstrate that they, in fact, have done things already that are bad and they've been lying, they should be able to be sued, they should be able to be held personally accountable.
BIDEN: What I meant by that is, look, [that] Donald Trump thinks Wall Street built America. Ordinary, middle-class Americans built America. Too many people who are at the middle class and poor have had the bottom fall out under this proposal. We have to make sure the middle class have insurance that they can afford; where there's continuing education and they're able to pay for it; that they're able to breathe air that is clean. Look, Donald Trump has put us in a horrible situation. We do have enormous income inequality. And the one thing I agree on is we can make massive cuts in the $1.6 trillion in tax loopholes out there, and I would be going about eliminating Donald Trump's tax cut for the wealthy.
So, Val [Biden's sister campaign manager] arranged a meeting with some fat-cat investment counselors. They were ready to give. In a private meeting, they asked Biden what he thought about lowering the capital gains rate. "I knew the answer I thought they wanted to hear," Biden remembered. "All I had to say was that I'd consider it. And I couldn't say it--I just couldn't lie to their faces." He told them he wasn't for changing capital gains.
The meeting ended. On the way home, Brother Jimmy told him. "Joe, I sure in hell hope you feel that strongly about capital gains because you just lost the election." Biden didn't look back. Instead, he took out a second mortgage on his home. The ads stayed up.
When the vice president finally speaks, offering up a 20-minute performance that is a classic Biden hodgepodge, he ends up with a ramble that includes a victory lap for the 2009 auto bailout he championed ("We and the American people placed a bet on all of you sitting in front of me. We won!"), an homage to American muscle cars ("I love that Cadillac ATS!") and a bit of campaign rhetoric, ready-made to outflank Clinton in the industrial heartland ("This is going to be the American century in manufacturing!").
We listened to Senators, Congressmen, advisors--we shouldn't step in, the risks were too high, the outcome too uncertain. But the President didn't see it their way. He understood something they didn't: this wasn't just about cars. It was about the Americans who built those cars.
In those meetings, I often thought about my dad. My dad was an automobile man. He would have been one of those guys selling American cars to the American people. I thought about what this crisis would have meant for the mechanics, the secretaries, the sales people who he managed. And I know for certain, that if my dad were here today, he would be fighting for this President, who fought to save all those jobs, his job, and the jobs of all the people he cared about. He would respect Barack Obama for having the guts to stand up for the automobile industry, when others walked away.
Remember what the headlines were saying when you woke up a couple of years ago. "It's bankruptcy time for GM." Another headline--"Crunch time looms for Chrysler." A million good jobs were at stake on the assembly line, at the parts factories, at the automobile dealerships, right down to the diners outside each of those facilities. We knew that resurrecting the industry wasn't going to be popular. We weren't going to give up on a million jobs and on the iconic industry America invented without a real fight.
A: With the WTO guidelines, we could stop these [unsafe] products coming in now. This president doesn’t act. We have much more leverage on China than they have on us. The idea that a country with 800 million people in poverty has greater leverage over us is preposterous. We’ve yielded to corporate America. We’ve yielded to this president’s notion of what constitutes trade, and we’ve refused to enforce the laws that exist.
CLINTON: Well, outsourcing is a problem. We have to end the tax breaks that still exist in the tax code for outsourcing jobs.
BIDEN: Eliminating the tax breaks is not going to keep jobs here in America. We’ve got to make it more attractive to have jobs here in America and for corporations to be here. You’ve got to take the burden off the corporations with a health care system that’s universal, so we’re not at a competitive disadvantage. You’ve got to have a better education system to provide for the highest-tech jobs that we educate our folks for, so we’re not importing 400,000 computer engineers to work in Silicon Valley. And you’ve got to deal with the innovation and infrastructure needs in this country--tunnels, bridges, etc.--which we haven’t done to make us more competitive.
Whether you own a business, represent one, lead a corporate office, or manage an association, the Chamber of Commerce of the United States of AmericaSM provides you with a voice of experience and influence in Washington, D.C., and around the globe.
Our members include businesses of all sizes and sectors—from large Fortune 500 companies to home-based, one-person operations. In fact, 96% of our membership encompasses businesses with fewer than 100 employees.
"To advance human progress through an economic, political and social system based on individual freedom, incentive, initiative, opportunity, and responsibility."The ratings are based on the votes the organization considered most important; the numbers reflect the percentage of time the representative voted the organization's preferred position.
|Other candidates on Corporations:||Joe Biden on other issues:|
2020 Presidential Candidates:
Pres.Donald Trump (R-NY)
V.P.Mike Pence (R-IN)
V.P.Joe Biden (D-DE)
Sen.Kamala Harris (D-CA)
CEO Don Blankenship (Constitution-WV)
CEO Rocky De La Fuente (R-CA)
Howie Hawkins (Green-NY)
Jo Jorgensen (Libertarian-IL)
Gloria La Riva (Socialist-CA)
Kanye West (Birthday-CA)
2020 GOP and Independent primary candidates:
Rep.Justin Amash (Libertarian-MI)
Gov.Lincoln Chafee (Libertarian-RI)
Gov.Larry Hogan (R-MD)
Zoltan Istvan (Libertarian-CA)
Gov.John Kasich (R-OH)
Gov.Mark Sanford (R-SC)
Ian Schlackman (Green-MD)
CEO Howard Schultz (Independent-WA)
Gov.Jesse Ventura (Green-MN)
V.C.Arvin Vohra (Libertarian-MD)
Rep.Joe Walsh (R-IL)
Gov.Bill Weld (Libertarian-NY,R-MA)
2020 Democratic Veepstakes Candidates:
State Rep.Stacey Abrams (D-GA)
Mayor Keisha Lance Bottoms (D-GA)
Rep.Val Demings (D-FL)
Sen.Amy Klobuchar (D-MN)
Sen.Kirsten Gillibrand (D-NY)
Sen.Maggie Hassan (D-NH)
Gov.Michelle Lujan-Grisham (D-NM)
Sen.Catherine Masto (D-NV)
Gov.Gina Raimondo (D-RI)
Amb.Susan Rice (D-ME)
Sen.Jeanne Shaheen (D-NH)
Sen.Elizabeth Warren (D-MA)
Gov.Gretchen Whitmer (D-MI)
A.G.Sally Yates (D-GA)
External Links about Joe Biden:
2020 Withdrawn Democratic Candidates:
Sen.Michael Bennet (D-CO)
Mayor Mike Bloomberg (I-NYC)
Sen.Cory Booker (D-NJ)
Gov.Steve Bullock (D-MT)
Mayor Pete Buttigieg (D-IN)
Secy.Julian Castro (D-TX)
Mayor Bill de Blasio (D-NYC)
Rep.John Delaney (D-MD)
Rep.Tulsi Gabbard (D-HI)
Sen.Mike Gravel (D-AK)
Gov.John Hickenlooper (D-CO)
Gov.Jay Inslee (D-WA)
Mayor Wayne Messam (D-FL)
Rep.Seth Moulton (D-MA)
Rep.Beto O`Rourke (D-TX)
Gov.Deval Patrick (D-MA)
Rep.Tim Ryan (D-CA)
Sen.Bernie Sanders (I-VT)
Adm.Joe Sestak (D-PA)
CEO Tom Steyer (D-CA)
Rep.Eric Swalwell (D-CA)
Marianne Williamson (D-CA)
CEO Andrew Yang (D-NY)