Joe Biden promises to raise taxes if elected
Democratic presidential candidate Joe Biden said that if he wins the presidential election, he will raise taxes for Americans who earn more than $ 400 a year. Writes about it Fox Business.
Photo: Shutterstock
Biden talked about his plan to raise taxes, which covers this segment of the population and apparently also includes businesses.
“I will raise taxes on everyone making more than $400,” Biden said. - Let me tell you why I'm going to do this. It's time for them to start contributing their fair share to our economy. The very rich should pay their fair share—corporations should pay their fair share.”
Biden referred to companies that receive "about a trillion dollars and pay no taxes at all."
“It's smart to tax businesses that actually make excessive amounts of money and don't pay taxes,” Biden said.
On the subject: Just about the difficult: how the president is elected in the USA
Biden said there will be no new taxes for small businesses or individuals making $ 400 a year or less.
According to a Tax Foundation analysis, the policies Biden intends to introduce, including raising taxes for those earning more than $ 400 a year, will increase tax revenue by $ 000 trillion over the next 3,8 years. The tax fund says Biden's plan will ultimately raise an estimated $ 10 trillion "with macroeconomic effects."
US President Donald Trump has warned that Biden's presidency will lead to "the largest tax increase in the country's history."
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