REPORT: Biden vows to repeal Trump tax cuts on ‘Day One’ if he captures White House

FOXNEWS.COM:

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.”

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