Posted on 06/30/2020 2:16:04 PM PDT by SeekAndFind
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 has made it much harder to foot the bill,” he said, mentioning the likely trillion-dollar-plus cost of the administration stimulus efforts as the coronavirus pandemic has plunged the economy into a deep recession with double-digit unemployment.
The 2017 Tax Cuts and Jobs Act is one of the few legislative wins for Republicans since Trump's election in 2016. Critics point to the cost, estimated in the trillions over 10 years, and disproportionate benefit to the wealthy as reasons to repeal it.
In his remarks, made during a digital fundraiser that brought in at least $2 million for his campaign, Biden pledged to raise the corporate tax rate to 28%. The GOP's tax law cut that rate from 35% to 21%.
"We have to think as big as the challenge we face. But this is America. There is nothing we cannot do if we do it together,” the former vice president said. “But I think the country is ready.”
(Excerpt) Read more at washingtonexaminer.com ...
The stock market will collapse.
And then...he tries to paint the border wall as a Berlin Wall, just start another movement. To tear it down...
Yes, it will.
My stupid hypocritical socialist marxist brother is pissed off that he had to pay capital gains taxes this year, and he will vote for Biden.
“He also said he would add at least 100,000 workers to the federal payroll.”
They’ll all be either IRS or BATFE agents.
He says contact tracers. So it’s a subsidy for the big cities.
Tell him Biden wants to double the capital gains tax.
Only if I die between now and Election Day, I mean. If I'm alive, Trump got my vote.
So there you have it. America’s first secret police.
He’ll solicit informants, too. Just like the KGB.
Pray for President Trump and victory in 2020. Our only hope.
Good thing illegals and dead people and a lot of people on wellfare do not pay taxes so Democrats will not lose a lot of voters.
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