(WatchDogReport.org) – Democratic presidential nominee Joe Biden has made a lot of lofty promises to the American people if they elect him in November. However, nearly all of his plans are supposed to be paid for with tax hikes.
On October 13, the American Enterprise Institute released a report estimating Biden’s tax plan would raise $2.4 trillion. Part of that money will come from his plan to eliminate President Donald Trump’s popular 2017 tax cuts for people who make more than $400,000 annually.
Biden also plans to raise the corporate tax rate to 28%; it’s 21% now. These are the people who create jobs, so taxing them could have a detrimental impact on the economy as the country recovers from COVID-19.
Joe Biden promised on Day 1 to raise taxes on 82% of Americans…in the middle of an economic recovery.
We cannot afford Biden!
— Ronna McDaniel (@GOPChairwoman) October 17, 2020
Biden should be pushing for policies that will promote economic growth. Electing a man who wants to raise taxes on so many people, especially during a recovery period, seems like an asinine idea. The American people will decide who they want to lead the country for the next four years on November 3.
Copyright 2020, WatchDogReport.org