Biden Trashes Trump For Lowering Taxes
Biden is asking for too much now.
In anticipation of President Biden’s budget release on Thursday, the White House has indicated several times that the President plans to propose tax increases for the wealthy. Additionally, the tax cuts signed by former President Donald Trump have been criticized by the Biden administration as “reckless” and “irresponsible.”
It’s insane that Biden and his administration is brazen enough to not only raise taxes but also attacked former President Donald Trump for choosing to lower taxes.
According to Fox, During a press briefing on Wednesday, White House press secretary Karine Jean-Pierre announced that President Biden’s budget is expected to reduce the federal deficit by almost $3 trillion over the next decade. While refraining from providing detailed information as the President is scheduled to address the budget on the following day, Jean-Pierre mentioned that the budget would recommend “tax reforms to guarantee that wealthy individuals and large corporations pay their equitable share, while reducing unnecessary spending on special interests such as Big Oil and Big Pharma.”
As per previous discussions by the White House, a potential reform being considered is the quadrupling of taxes on corporate stock buybacks, without impacting individuals earning less than $400,000. The Biden administration is also considering introducing a new minimum tax of 20% for individuals worth over $100 million. These proposals are reportedly being included in the President’s budget plan.
Biden and his administration is hell-bent on making sure that the American people pay their “fair share” and many Americans are worried this means their taxes will be raised as well even if they are in the middle class. Biden has assured the middle class he won’t raise their taxes but he has lied before.
Jean-Pierre then attacked Trump for lowering taxes and said, “The last administration added $3 trillion or $2 trillion to the debt when they put forward a really irresponsible piece of legislation that gave tax breaks to the wealthy, especially millionaires and billionaires. That is something that we have had to deal with, and we really have to call out.”
