Former Vice President and current presidential candidate Joe Biden promised Saturday that on “Day One” of a Biden presidency he would repeal President Trump’s 2017 tax cuts and close $500 billion on tax loopholes.
Speaking at the South Carolina Democratic Party Convention, Biden said that “Income inequities are at an all-time high and made worse by Trump’s tax cuts and enormous giveaways to the top one-tenth of the 1 percent … and it’s time we start to reward work over wealth.”
The article goes on to state the following:
Outlining his policy proposals in this visit to the early primary state, Biden said the GOP-backed tax cuts, which have been heavily criticized in some quarters as beneficial only to the rich, have no socially redeeming value. He vowed to “put that money to good use.”
According to the New York Times, “Most people got a tax cut” as a result of the new tax law.
“To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase,” The Times stated. “The Joint Committee on Taxation — Congress’s nonpartisan team of tax analysts — found that every income group would see a tax cut on average. So did the Institute on Taxation and Economic Policy, a left-leaning think tank that was sharply critical of the law.”
— 1010 WINS (@1010WINS) June 22, 2019
Biden, who has said the Trump tax cut will be “gone” on his first day, makes a more realistic pledge at SCDem convention: “On day one, I will move to eliminate Trump’s tax cuts for the super rich.”
— Dave Weigel (@daveweigel) June 22, 2019
— ATR (@taxreformer) June 20, 2019
To get more information about this article, please visit FOXNEWS.COM. To weigh in, leave a comment below.
The post REPORT: Biden vows to repeal Trump tax cuts on ‘Day One’ if he captures White House appeared first on DML News.
This content is courtesy of, and owned and copyrighted by, https://dmlnews.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact the USSANews.com administrator by using the contact form located in the top-left menu. Your request will be immediately honored. Please visit https://dmlnews.com for more terrific, conservative content. The owner of this website may be paid to recommend American Bullion. The content of this website, including the positive review of American Bullion, the negative review of its competitors, and any other information may not be independent or neutral.