May 4, 2024
Biden uses tax policy to buy votes
By Warren Beatty
Joe Biden is buying votes again. His tax revenue proposal for fiscal year 2025 promotes targeted tax increases that affect white individuals more than other groups with the goal of helping to ease racial wealth inequality.
By raising taxes on accumulated wealth based upon income and capital gains, a Treasury Department analysis shows that black and Hispanic families could see a reduction in wealth disparity. The disparity cause: whites tend to own assets subject to capital gains tax and/or fall into higher income tax brackets.
As part of his tax proposal, Joe Biden proposes an expansion of the child tax credit, including a temporary raise in the per-child amount and a permanent restoration of the full refundability provision. The Treasury Department reports that this proposal will help alleviate the wealth racial disparity because a greater percentage of blacks and Hispanics have historically benefited from the credit.
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https://www.americanthinker.com/blog/2024/05/biden_uses_tax_policy_to_buy_votes.html
