Joel B. Pollak
21 Jul 2020
Former Vice President Joe Biden released a plan Tuesday to tax “real estate investors†to pay for a new federal benefit that, he says, will cover the costs of elder care and child care so working-age adults can focus on their own jobs.
Called “The Biden Plan for Mobilizing American Talent and Heart to Create a 21st Century Caregiving and Education Workforce,†the proposal claims it “will cost $775 billion over 10 years and will be paid for by rolling back unproductive and unequal tax breaks for real estate investors with incomes over $400,000 and taking steps to increase tax compliance for high-income earners,†according to a description of the plan on Biden’s campaign website, posted on Tuesday.
President Donald Trump has already proposed a plan for paid parental leave, which has been championed by daughter and adviser Ivanka Trump, and which was introduced in the Senate last year as a bipartisan bill. Democrats have opposed the plan because it does not provide new spending, but rather allows individuals to draw on their future child tax credits.
The details of Biden’s plan are still sketchy, but the core appears to be “a $5,000 tax credit for informal caregivers, [and] Social Security credits for people who care for their loved ones,†among other proposed federal government interventions.
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https://www.breitbart.com/economy/2020/07/21/joe-biden-echoes-bernie-sanders-in-proposing-real-estate-taxes-to-fund-child-elder-care/#
