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Straight from Harris's mouth. "I promise you this. As a first order of business Joe Biden and I are about to work to get rid of that tax cut" https://twitter.com/SassySouthern10/status/1323406965381484545   

Joe Biden railed against “trillionaires” in a speech Friday where he also vowed that middle-class Americans wouldn’t pay a penny more in taxes under his plan — despite wanting to eliminate President Trump’s tax cuts for the middle class. During a 25-minute stump speech in Des Moines, Iowa, the Democratic nominee repeated his campaign pledge that Americans earning less than $400,000 a year would not see their taxes raised if he was elected president next week. “I guarantee you, I give you my word as a Biden, no one making less than $400,000 a year will see a penny in...

During the vice-presidential debate Wednesday night, Vice President Mike Pence repeatedly claimed that Democratic presidential nominee Joe Biden and his running mate Kamala Harris would raise taxes on “day one” if they win the Nov. 3 election. “They’re going to raise taxes on every American,” Pence said. “Joe Biden said twice in the debate last week that on day one he’s going to repeal the Trump tax cuts.” Liberals tried to cover for Biden’s plan but the internet never forgets. During Joe Biden’s campaign rally in South Carolina back in February, a voter told Biden that the Trump tax cut...

President Trump vowed to continue lowering taxes if he defeats Democratic challenger Joe Biden on Nov. 3, tweeting from the Walter Reed National Medical Center on Monday morning that his administration would pass a sequel to the 2017 tax overhaul. "BIGGEST TAX CUT EVER, AND ANOTHER ONE COMING. VOTE!" Trump wrote in a series of tweets from Walter Reed, where he's been staying since Friday to undergo treatments for COVID-19. "IF YOU WANT A MASSIVE TAX INCREASE, THE BIGGEST IN THE HISTORY OF OUR COUNTRY (AND ONE THAT WILL SHUT OUR ECONOMY AND JOBS DOWN), VOTE DEMOCRAT!!!" he wrote in...

Princeton Professor Eddie Glaude warned viewers of MSNBC's Morning Joe show not to allow selfishness to lure them into voting for Trump. "I know a lot of you are tempted to place your own prosperity ahead of social justice and vote for Trump's reelection," Glaude said. "Well, DON'T DO IT!" "Granted, Trump's economic policies of deregulation and tax cuts have helped spur a booming economy," the Professor admitted. "Unemployment was at historic lows for minorities before the pandemic and the lockdowns hit. Likewise, stock prices have rallied back to where they were in January—enriching every person who has an IRA...

Democrats are backing away from vows to reverse President Trump's tax cuts if they take control of the Senate and White House. Senate Democrats had suggested they could move quickly on the issue, but now say they are likely to delay stand-alone tax legislation if Democratic nominee Joe Biden is elected president and their party controls the House and Senate. Instead, the priority will be on spending to create jobs and raise wages, investments in green technology and infrastructure and a national plan to contain the coronavirus pandemic. Some of those stimulus and relief bills could include tax incentives for...

President Trump opened the door this week to a capital gains tax cut, saying he's "seriously" considering it as a way to help the U.S. economy recover from coronavirus-induced recession. “We’re looking at also considering a capital gains tax cut, which would create a lot more jobs,” Trump said Monday during White House press briefing. “So we're looking very seriously at a capital gains tax cut and also at an income tax cut for middle-income families." Trump cannot use executive authority to slash the 20% long-term capital gains rate without Congress, but he could try to bypass Congress and lower...

One of the great puzzles of politics is why so many are against President Trump's idea of cutting payroll taxes. The puzzle starts from the fact that this is simply the standard Keynesian thing to do to boost demand in a recession, and as President Richard Nixon said more than a generation ago, "We are all Keynesians now." The vehement reaction that has greeted this executive order to defer certain payroll tax obligations (though Trump wants to forgive them permanently if he wins the election) is over the top. Maybe an executive order isn't quite the way to do it,...

Back in 2009, Nancy Pelosi infamously declared the best way to revive the economy was to dole out ever-more-generous food stamps and unemployment benefits. The more people collecting welfare, the better. At the time, this notion seemed laughable. Now this economic illiteracy seems to have become conventional wisdom. This was a headline in the New York Times recently: "End of $600 Unemployment Bonus Could Push Millions Past the Brink." Here was the lead on the "news" piece: "When millions of Americans began losing their jobs in March, the federal government stepped in with a life preserver: $600 a week in...

Joe Biden has been consistent throughout his presidential campaign: Some level of higher taxes is coming. In a donor meeting Monday evening, Biden said he was "going to to get rid of the bulk of Trump's $2 trillion tax cut." He added about President Trump's 2017 tax law, enacted with a Republican Senate and a House then under Republican control, "A lot of you may not like that, but I'm going to close loopholes like capital gains and stepped-up basis," mentioning the numerous wealthy people in attendance virtually. “Folks, this is going to be really hard work, and Donald Trump...

Speaker of the House Nancy Pelosi toured San Francisco’s Chinatown back in late February. On the 25th of February, she said there’s no reason tourists or locals should be staying away from the area because of coronavirus concerns. “That’s what we’re trying to do today is to say everything is fine here,” Pelosi said. “Come because precautions have been taken. The city is on top of the situation.” Pelosi visited The Wok Shop, a temple and the Golden Gate Fortune Cookie Factory, which was started 58 years ago by owner Kevin Chan’s mother and uncle. She helped in spreading the...

Behind the scenes, congressional Democrats’ main priority is bringing back a big tax loophole for rich people in high-tax blue states: their donors. House Speaker Nancy Pelosi, D-Calif., has political priorities. During negotiations over the three Wuhan coronavirus stimulus bills, Pelosi and Senate Minority Leader Chuck Schumer, D-N.Y., tried to include loans for abortion providers, as well as a bailout of the Obamacare exchanges that would end up funding abortion.That led to some bad PR for Pelosi, but the House speaker may be a glutton for punishment. If there’s one thing Democrats are beholden to more than the abortion lobby,...

A "very big" tax cut for middle-class Americans will be announced over the next 90 days, President Donald Trump said in an interview Wednesday. "We will make that permanent for the middle class," Trump told Fox Business' Maria Bartiromo in an interview from the World Economic Forum in Davis, Switzerland, where he also added that further initiatives are coming on healthcare. "We've done well with health care. We got rid of the individual mandate. That was a thing people couldn't do, they couldn't afford it, they didn't want it," said Trump. "They were forced to pay a number and not...

America needs a bold agenda to solidify the current economic expansion and return hard-earned money to taxpayers. That runs counter to the consensus of those on the left, who want large increases in federal spending and dramatic tax increases to pay for them. Their plans are so expansive that it will require both middle-class payroll tax hikes and broad new taxes on American savers, investors, and employers. Opposing that growth-killing agenda isn’t enough. Conservatives need to draw a stark contrast and push for a second round of tax relief that will let workers keep more of their money, make it...

Every single plausible Democratic candidate for president has endorsed tax increases as a centerpiece of their economic agenda. Think about what we are hearing from Elizabeth Warren, Joe Biden, Bernie Sanders and the rest of the "Punch and Judy" show: new wealth taxes, carbon taxes, energy taxes, higher death and income taxes with rates up to 70%. Payroll taxes would rise to pay for Social Security benefit expansions and Medicare for All. I remember a time when liberal Michael Dukakis, running against George H.W. Bush, declared he would only raise taxes as "a last resort." Now Democrats think raising taxes...

Every single plausible Democratic candidate for president has endorsed tax increases as centerpieces of their economic agenda. Think about what we are hearing from Elizabeth Warren, Joe Biden, Bernie Sanders, and the rest of the Punch and Judy Show. New wealth taxes, carbon taxes, energy taxes, higher death and income taxes with rates up to 70%. Payroll taxes would rise to pay for Social Security benefit expansions and Medicare for All. I remember a time when liberal Michael Dukakis, when running against George H.W. Bush, declared he would only raise taxes as “a last resort.” Now Democrats think raising taxes...

Get ready for the debate of the century — and we’re not talking about the Democratic primaries. That is, get ready if New York Times publisher A.G. Sulzberger has the cojones to face off against a very angry FedEx CEO Fred Smith. The NYT ran an analysis of FedEx’s taxes and accused the company of lobbying for the big tax reform of 2017 on the basis of increasing investment in the US economy — and then reneging on the promise: In the 2017 fiscal year, FedEx owed more than $1.5 billion in taxes. The next year, it owed nothing....

Imagine, for a moment, that you are a journalist for left-leaning media outlet ProPublica. You come across data showing that in the wake of the Tax Cuts and Jobs Act’s (TCJA) caps on deductions that artificially inflated home values, home prices across the country have fallen, particularly in high-income, upper-class areas. How do you respond?If you guessed “spin this news into a narrative about how the TCJA hurt middle-class homeowners,” you’re a winner! That’s exactly what ProPublica editor Allan Sloan did.Sloan used data showing that home values nationally are 4% lower than they otherwise would have been, extrapolating this into a...

Kristalina Georgieva, the new managing director of the International Monetary Fund, applauded the Trump administration's "bravery to use a tax reform to spur more growth" in an exclusive interview with "Axios on HBO." Why it matters: Georgieva vowed that she would be able to persuade the U.S. to commit more money to the fund during the course of her five-year term. "I will get my quota increase," she said — in the face of reported U.S. opposition and a U.S. veto over any changes. Georgieva comes to the IMF from the World Bank, where she was CEO and where she...

President Donald Trump is an “exaggerator” who knew his policies wouldn’t generate the 5% growth he had promised while campaigning, according to Stephen Moore, who served as a campaign advisor to Trump and was a prospective Fed nominee. In an interview with Mehdi Hasan, columnist at The Intercept, Moore stopped just short of calling the president a liar, but did say Trump hurts himself with falsehoods. “He should stop saying things that are untrue,” Moore says in a clip from Al Jazeera English television show that Hasan provided on his Twitter feed. “I think Trump is an exaggerator, and I...