Wall Street Votes: Trump, Biden's Tax Policies

The video discusses the concerns of C-Suite executives about corporate taxes over coronavirus, highlighting Trump's tax cuts that reduced the corporate tax rate from 35% to 21% and allowed immediate deductions for spending until 2023. It examines the impact of these cuts on nonresidential spending, which increased but dipped due to COVID-19. The video then explores Biden's tax proposals, which aim to reverse many of Trump's policies, potentially making the U.S. corporate tax rate the fourth highest globally. It discusses the potential negative impact on tech, communications, and healthcare sectors, while energy and materials might remain unaffected. Biden's plan includes increasing taxes on the wealthy, extending Social Security taxes, and raising capital gains taxes.

What was the primary concern of C-Suite executives according to the PwC survey?

• Interest rates

• Stock market fluctuations

• Coronavirus

• Corporate taxes

What was one of the major changes in corporate tax policy under President Trump?

• Introducing a new tax on tech companies

• Eliminating corporate taxes entirely

• Allowing companies to deduct equipment costs immediately

• Increasing the corporate tax rate to 35%

How did nonresidential spending change after Trump's tax policies were implemented?

• It remained stable

• It decreased significantly

• It fluctuated without a clear trend

• It increased by over $2.6 trillion

Which industries might be less affected by Biden's proposed tax changes?

• Technology and communications

• Healthcare and finance

• Retail and manufacturing

• Energy and materials

What is one of the key features of Biden's tax proposal?

• Lowering payroll taxes for all income levels

• Increasing capital gains taxes

• Eliminating Social Security taxes

• Reducing the top marginal tax rate