The Briefing Room
General Category => Elections 2024 => Topic started by: mystery-ak on April 20, 2024, 02:08:17 pm
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Biden floats tax hikes for all, says Trump cuts will ‘stay expired’ if re-elected — prompting WH walk-back
By Social Links for Steven Nelson
Published April 19, 2024, 1:50 p.m. ET
President Biden vowed Friday that former President Donald Trump’s 2017 tax cuts would lapse next year if he’s re-elected and “stay expired” — meaning higher taxes for middle class and low-income Americans — prompting a hasty walk-back by aides.
Biden, 81, lambasted Trump’s Tax Cuts and Jobs Act (TCJA), which permanently lowered corporate taxes from 35% to 21% and temporarily lowered personal income tax rates through 2025, as a giveaway to the rich in a speech to electrical union members in Washington.
“[Trump] was proud, very proud of his $2 trillion tax cut when he was president that overwhelmingly benefited the wealthy and the biggest corporations and exploded, exploded the federal debt,” Biden said of his predecessor ahead of their expected November election rematch.
“There is no exaggeration here: It’s going to expire and if I’m re-elected, it is going to stay expired,” the president added.
Biden’s apparently off-the-cuff remark did not reflect a change in policy, the administration insisted to The Post.
more
https://nypost.com/2024/04/19/us-news/biden-teases-tax-hikes-for-everyone-saying-trump-cuts-will-stay-expired-if-re-elected/
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Keep destroying well paying jobs, and there won't be anyone left to tax.
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Show of hands who believes Biden't $400K AGI cutoff is the truth? :silly:
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“The president is simply reiterating what’s in his budget. He would let the Trump tax cuts for big corporations and the richest Americans — those making more than $400,000 — expire, and extend the tax cuts for those making less than $400K,” a White House official said.
“In fact, his budget would further cut taxes for the middle class and working families. He has said that repeatedly and in every budget. Trump and Republicans are responsible for the egregious and fiscally reckless cliff that is in the Trump Tax Cuts —they are the reason taxes will raise for the middle class after 2025.”
A person making $240k is currently in the 35% tax bracket. What number is Biden proposing this percentage be reduced to? Or is the White House lying?
Here is that one time Biden got caught telling the truth.
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A person making $240k is currently in the 35% tax bracket. What number is Biden proposing this percentage be reduced to? Or is the White House lying?
Here is that one time Biden got caught telling the truth.
Also being kept deafening quiet is Pedo Joe's plan to really ratchet up the IRMAA incremental payments on Medicare premiiums.