Second 2020 Presidential Debate: on Corporations

Donald Trump: If we raise tax rates, companies will leave the country

TRUMP: Our corporate taxes were the highest in the world, and now they're among the lower taxes. They're not the lowest, but they're among the lowest. That means jobs. If we get in, we're going to do the middle income tax package. If [Biden] comes along and raises rates, all those companies that are coming in, they will leave the U.S. so fast your head will spin. We can't let that happen.

BIDEN: About $1.3 trillion of the $2 trillion in his cuts went to the top one-tenth of 1%. That's what I'm talking about eliminating, not all the tax cuts. You have 91 out of the Fortune 500 companies not paying a single solitary penny. If you raise the corporate tax back to 28%, which is a fair tax, you'd raise one trillion, three hundred billion dollars. If you made sure that people making over $400 grand paid what they did [under] Bush, 39.6%, you would raise another $92 billion