Biden Promises to Raise Taxes on Individuals and Businesses
Presidential candidate Joe Biden is promising to raise takes on individuals and businesses if he is elected.
The tax hikes will affect individuals making over $400,000 per year.
According to Fox Business:
“I will raise taxes for anybody making over $400,000,” Biden said. “Let me tell you why I’m going to do it. It’s about time they start paying a fair share of the economic responsibility we have. The very wealthy should pay a fair share — corporations should pay a fair share.”
Biden referred to businesses that take in “close to a trillion dollars and pay no tax at all.”
After saying this, Muir questioned the wisdom of burdening businesses with new taxes while the economy needs to recover from the coronavirus crisis.
“It’s smart to tax businesses that in fact are making excessive amounts of money and paying no taxes,” Biden said.’
Biden stated there would be no new taxes on small businesses and individuals making less than $400,000 per year.
Do you think takes on these income levels need to be raised? Tell us below in the comments.
Praying hard that this will NOT become an issue!!! God bless America, and God bless President Trump!
suicidal statement in an election year.
Only a senile Putz like Democrap sleepy Joe Biden believes he can be elected by promising to raise taxes!
Biden is a complete moron with his inane answers. I don’t think he has a clue about what makes an economy grow, seriously.
Look at proposed program agenda the Democrats are proposing. There is no way these programs can be paid for and America remain the same. It’s as if the Democratic Party is now Bernie Party. Beware voters
Business do not pay taxes
They increase the price of their products
And guess what! the working people and the low income people pay the taxes !!! Sorry the increase price of the product??
Great idea Democrat’s
Hey, Biden, ever hear of a fellow named Walter Mondale?
No Democrat ever raised a tax on the wealthy without then raising taxes on everyone. Not paying enough!? The top 10% already pay over 70% of taxes. The inequity is grossly unfair when 44%$ pay no taxes. And yet the wealthy give and give to Democrats. That is morally evil: they are supporting those who would destroy them. President Trump fights for ALL Americans wealthy and poor alike.
When will they wake up? Corporations will never pay taxes because the IRS laws allow them to escape in nearly all instances. And when they do have to pay they simply raise prices to make up for it. So, Dipshit Joe, your retirement is 2 months away. And Comedy Harris? She’s going down like a sub with screen doors.
it starts at $400,000 and soon it will be anyone over $40,000
Please see my comment above. Even if it stays at higher levels, you will still pay the bulk of those taxes in reality. The middle class always pays the bulk of the taxes by some means because that’s where the real money is.
Are they really so stupid not to know that taxes are a cost of business and the tax like any other expense is passed on to the consumer? In reality the consumer pays it all… so basically he will raise all our taxes in increased prices. Dumb.
Actually as a republican I agree with Biden. For far too long the CEO’s and corporations have not paid their fair share. If they did, America would not be in the situation it is, or has been. Can you imagine a company that makes billions of dollars pays NOTHING? Using all the loopholes. The govt needs to close this loophole, or simply go to a flat tax like many countries in europe. And they can pay into social security on ALL the money they make. Then social security won’t be in the fix it also is in.
There is no logical reason other than greed, that these people and entities don’t pay a fair share. So I hope Trump does the same thing when reelected….!!
The people and businesses Biden wants to tax more heavily are those who have been providing major numbers of jobs since President Trump took office and taxes have been reduced. Do you know who will pay those higher taxes–you? Businesses don’t pay taxes; they collect them from you and forward them to the government. Politicians know this and continue the lie of “business taxes” to hide the taxes you actually pay. The sources of “business taxes” are lower salaries of employees, lower returns on investments (your IRA or 401K), and higher prices for consumers. The media also help politicians hide these hidden taxes and perpetuate the lie.
Democrat Communists ALWAYS lie about this. They fully intend to broaden it to everyone.
Businesses do not pay taxes. Ever. They pass them on to consumers in higher prices.
You will pay
This, in fact, is another liberal lie. Yes, joe intends to raise taxes on those making over 4 hundred thousand a year, but joe has also promised his first act will be to cancel President Trump’s tax cuts, which will, in effect, raise taxes on every American (but not on any illegal aliens) so pretending he is only going after the wealthy is a blatant lie. (What else do you expect from a 2 faced, lying democrat running for office?)
No no no no no no, naughty lying Democrats. Democrats always raise everyone’s taxes. And they never give back those taxes. Instead, they raise taxes again, and again and again.