We haven’t seen much of former Vice-President and Democrat presidential nominee Joe Biden since the coronavirus pandemic burst on the scene in March. Mr. Biden has been holed-up in his Delaware basement, we are told, providing only limited access to the media.
This limited access, we are also told, is because Mr. Biden’s political handlers want to minimize his exposure to the media since they are well aware he is so “gaffe-prone” and since his liberal economic policies and proposed massive tax increases are so controversial.
While Donald Trump is also admittedly a controversial leader, I believe it is imperative that we all understand the radical differences between President Trump’s economic and tax policies and those of Joe Biden. Let’s get right to it.
In 2016, Hillary Clinton ran for president proposing $1 trillion in tax increases. That was unheard of at the time, and along with her other controversial liberal positions ultimately gave Trump the edge and cost her the election.
But now, four years later, former Vice-President Joe Biden thinks he has an even better idea. In his third run for the White House, Biden is proposing tax increases of nearly $4 trillion over the next 10 years. If he wins in November and these increases were to pass, they would be the highest in American history by far.
What, you haven’t heard this? Don’t feel bad, the Dems are doing their best to keep it quiet. But not to fear, there are three presidential debates scheduled between now and the election. Biden will have to come clean at some point.
President Trump’s 2017 tax reform, by comparison, cut taxes for corporations, small businesses, blue-collar workers and the middle class. Since Trump took office, employers have added over 10 million new jobs despite the COVID-19 pandemic, Trump’s tax reform package created an economy that produced the lowest unemployment in American history for Blacks, Hispanics and Asians, along with increases in wages and middle-class incomes.
Are Biden’s proposed tax increases what America needs while our economy is still mired in the coronavirus downturn, and now beset by anti-police protests? What will happen to jobs under that far-left leadership, if Biden wins? And how long will it take for America’s economy to return to where it was at the beginning of 2020, if ever? These are questions we need to be asking!
Biden proposes an outright repeal of Trump’s tax reform package, raising taxes on the middle class, blue-collar families and American corporations, large and small. Such tax increases would return America’s corporate tax rate to nearly 40% percent, the highest in the developed world.
At the start of the Great Depression in 1929, President Hoover’s tax increases to balance the budget in a collapsing economy caused America to suffer 25% unemployment for more than 10 years. Is that what Americans want again? No way!
And Biden also proposes to raise the capital gains tax from 15%-20% to 40%, more than doubling it from today’s rate. We know from experience that such an increase would dramatically reduce tax revenues from that source and slash investment returns for all Americans. The Dems don’t ever seem to learn.
Additionally, Biden proposes a “carbon tax” — a new form of gas tax — on America’s world-leading oil and natural gas production. And he has asked radical Rep. Alexandria Ocasio-Cortez (D-NY), architect of the Green New Deal, to co-chair his campaign on climate change.
Now that America is energy independent for the first time in 75 years, producing more oil and gas than Russia and Saudi Arabia combined, Biden proposes to return America’s energy production to oblivion. What price would gas be then for American motorists?
Biden’s tax increases would raise taxes on middle-class families by over $2,000 a year, with a $1,300 annual tax increase on a median-income, single parent with one child. Repealing Trump’s tax reform would cut in half the child tax credit and standard deduction, which currently help lower-income families the most.
Unfortunately, there’s more: Biden proposes to reinstate the ObamaCare “individual mandate” tax, which hits lower-income and middle-class households the hardest — with an estimated bill of $695 to $2,085 per family a year. Most households paying that tax when President Obama implemented it made less than $50,000 a year. Remember, Trump’s 2017 tax reform zeroed out that ObamaCare tax, to help working people.
And more yet: Biden also would increase the “death tax,” impose a new minimum tax on smaller businesses and double the tax on overseas income. His new energy taxes would significantly increase prices at the pump and our utility bills.
That’s what Biden has been thinking about while campaigning virtually from his basement. Just wait until he fully emerges. Fortunately, he will have to admit his liberal policy positions later this year as we get into the presidential debates.
Hopefully, American voters will be listening and won’t buy into the liberal policies that could ruin the economy, which if left alone will recover from the COVID-19 crisis.
Unfortunately, the media will be doing its best to keep secret what you have just read above.
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