Joe Biden: I Can Send Everyone To Community College With A Minimum 15% Tax On Corporations | Video | RealClearPolitics

Joe Biden: I Can Send Everyone To Community College With A Minimum 15% Tax On Corporations

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Former Vice President Biden said during an interview this week with "60 Minutes" that he has a plan to pay for several trillion dollars of new spending over the next decade with tax increases on billionaires and millionaires, including a plan to pay for four-year college for everyone with a 15% corporate tax.

Biden says he can afford that much spending "by righting the tax code."

"You got billionaires in this country making $700 billion during this crisis," he said.


"I can send every single qualified person to a four-year college in their state for $150 billion," Biden said. "I can make sure every single person who qualifies for community college can go and we still have a lotta money left over. That's what I mean by significant institutional changes.

"After our interview, Mr. Biden's staff told us he misspoke, and that the cost of free public college could be twice as much as he said," CBS host Norah O'Donnell said in a voice-over.

Norah O'Donnell: I was listening to one of your podcasts and you said we need some revolutionary, institutional changes. Like what?

Former Vice President Joe Biden: Well, for example, I think we have to fundamentally change the way in which we deal with-- institutional racism. For example-- one of the hardest things, beyond police issues, there's the issue of accumulation of wealth. There's an awful lot of Black Americans who are equally as-- they're as qualified as white Americans based on the same status they're in in terms of economic opportunity but they don't get a chance. So, for example, if we just made every corporation pay minimum 15% tax; you got 91 pay no tax. That raises over $400 billion. I can send every single qualified person to a four-year college in their state for $150 billion. I can make sure every single person who qualifies community college can go and we still have a lotta money left over. That's what I mean by significant institutional changes.

The nonpartisan Tax Policy Center and others have questioned whether Joe Biden's corporate minimum tax plan would raise as much money as he estimates. After our interview, Mr. Biden's staff told us he misspoke and that the cost of free public college could be twice as much as he said.
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