The Poor Became Poorer Under Biden
I & I Editorial Board
October 3, 2025
Never trust a politician who promises to help the poor by taking from the rich. It never works. Joe Biden proved this point.
While still in the White House, Biden promised that if reelected, he would levy a billionaire tax on the wealthiest Americans. It wasn’t the first time. During his 2023 State of the Union address, he railed that “the tax system is not fair, it’s not fair.” A year earlier, he proposed a “billionaire minimum income tax.”
Even before he was president, Biden was fond of demanding that the rich pay their “fair share,” which makes a snappy sound bite but leaves open exactly what a “fair share” is and who gets to decide what rates are “fair.”
Fortunately, Biden never got his billionaire tax.
But he did succeed in making life more difficult for the poor. Both the overall and child poverty rates swelled while he was in office. The overall poverty rate grew by 40.2% from 2020 to 2024. The child poverty rate spiked by 38.1% over that same period.
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