Biden vows to increase taxes: I’m going to get rid of most of Trump’s tax cuts ‘and a lot of you may not like that’

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Joe Biden will destroy this country if elected POTUS.He must be stopped.

Related – Joe Biden Endorses Abortion ‘Under Any Circumstance’ In Statement After SCOTUS Ruling

Related – Public Schools Will Be Forced To Allow Biological Males On Female Sports Teams If Joe Biden Wins, According To Biden 

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Biden tells donors: I’m going to get rid of most of Trump’s tax cuts ‘and a lot of you may not like that’

  • Presumptive Democratic nominee Joe Biden told potential donors to his campaign that he would roll back most of President Donald Trump’s multitrillion-dollar tax cuts – even though “a lot of you may not like that.”
  • Biden’s warning to his backers came as the candidate laid out an ambitious suite of policy goals during a virtual campaign fundraiser.
  • “I’m going to get rid of the bulk of Trump’s $2 trillion tax cut,” Biden said, “and a lot of you may not like that but I’m going to close loopholes like capital gains and stepped up basis.”

By CNBC, June 30, 2020

Presumptive Democratic nominee Joe Biden told potential donors to his campaign that his administration would end most of President Donald Trump’s multitrillion-dollar tax cuts – even though “a lot of you may not like that.”

Biden’s warning to his backers came as the candidate laid out an ambitious suite of policy goals during a virtual campaign fundraiser on Monday.

The event raised at least $2 million, CNBC reported.

https://twitter.com/schwartzbCNBC/status/1277690530525257728?s=20

Biden, who has largely avoided in-person campaign events throughout the coronavirus pandemic, said the recovery from the health crisis could present an “opportunity” to strengthen the middle class and make sweeping investments in clean energy and infrastructure.

“Folks, this is going to be really hard work and Donald Trump has made it much harder to foot the bill,” Biden said, according to a Wall Street Journal reporter’s press pool report about the event.

But even before the coronavirus crisis effectively froze the U.S. economy and sent unemployment skyrocketing, Trump’s “irresponsible sugar-high tax cuts had already pushed us into a trillion-dollar deficit,” Biden said.

“I’m going to get rid of the bulk of Trump’s $2 trillion tax cut,” Biden continued, “and a lot of you may not like that but I’m going to close loopholes like capital gains and stepped-up basis.”

Biden also said he would raise the corporate tax rate to 28%, which he said would raise an estimated $1.3 trillion over the next decade. The Trump tax cuts had shrunk corporate taxes to 21% from 35%.

“We have to think as big as the challenge we face. But this is America, there is nothing we cannot do if we do it together,” Biden said. “But I think the country is ready.”

 

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MuhamMUDTheFakeProphet
MuhamMUDTheFakeProphet
3 years ago

“Folks, this is going to be really hard work and Donald Trump has made it much harder to foot the bill,”

His plain-folk appeals really convince me he’s for the common man.

TD
TD
3 years ago

He will raise taxes because he has enough money from China to pay for his personal nurse.

Suresh
Suresh
3 years ago
Reply to  TD

He is talking about raising corp tax not tax on middle class. 28% corp tax won’t kill them and most corp
are making money by importing from china and not creating employment in America.

Only companies that generate 90% of their jobs in America deserve lower tax.

MuhamMUDTheFakeProphet
MuhamMUDTheFakeProphet
3 years ago
Reply to  Suresh

Yeah right and Dem0rats aren’t going to try to fix the 2020 Presidential election either are they?

Suresh
Suresh
3 years ago

they will. That is no excuse to give corp 21% tax while rest pay more.

And then run deficit in trillions that you and future generations can’t pay

WildernessOfMirrors
WildernessOfMirrors
3 years ago
Reply to  Suresh

The last guy who promised to raise taxes lost to Reagan. Yes that would be Mondale.

Rusty
Rusty
3 years ago

We have too many people, white and Black, that have their hands out for free stuff. No military draft. So those that have been getting free stuff have no clue what it real means to work. I recall a guy that had his jeep stolen. He was in his early 40s and did work, but carried no insurance for theft. He’s never served and went to Mommy to borrow her vehicle and she handed him $2,000 towards another car. Yet he still had time to play outside of work. I’ve no problem with family helping family, but necessary one cuts back, you give up the playing or don’t ask for help due to a decision you made. By the way, Mondale’s uncle signed the Humanist Manifesto that John Dewey signed.

WildernessOfMirrors
WildernessOfMirrors
3 years ago
Reply to  Rusty

Agree with all points. WTF is the Humanist Manifesto. Sounds just plain dumb

Achmed Mohandjob
Achmed Mohandjob
3 years ago
Reply to  Suresh

The majority of the 218 separate jurisdictions surveyed for the year 2019 have corporate tax rates below 25 percent and 111 have tax rates between 20 and 30 percent. The average tax rate among the 218 jurisdictions is 22.79 percent.[5] The United States has the 84th highest corporate tax rate with a combined statutory rate of 25.89 percent.

Suresh
Suresh
3 years ago

84 among 190 countries ? That indicates its low.
pacific island countries not worth even counting as countries

Achmed Mohandjob
Achmed Mohandjob
3 years ago
Reply to  Suresh

Many of our competitors have a lower corporate tax rates. The average corporate rate (maximum) in the EU is 20.3%, which is substantially lower than the United States of America.

You’d rather count moslem nations, such as the UAE, with a 55% corporate rate?

Suresh
Suresh
3 years ago

shows your ignorance on corp tax in UAE.

lower tax does not result in more jobs. I’m all for giving lower tax only to companies that bring jobs in.
not for others .

Achmed Mohandjob
Achmed Mohandjob
3 years ago
Reply to  Suresh

OK, little one, if the UAE’s top corporate tax rate isn’t 55%, what is it. Or, are you too ignorant, or simply TOO stupid to know what it is?

The fact is that the United State’s corporate tax rate is significantly higher than THE highest of ANY corporate tax rate of any EU nation.

Lower corporate tax rates have proven that they bring business back to the U.S.

Obviously, you are FAR to ignorant to have understood the data.

What should be done is to place SUBSTANTIAL tariffs on goods imported, into the U.S., from China and India.

felix1999
felix1999
3 years ago
Reply to  Suresh

It has and continues to bring companies back to the U.S.! That translates to JOBS and more TAX REVENUE plus we control more of the manufacturing chain that has been outsourced. We have seen how dependent we became to other countries like China. That’s dangerous. We have to uncouple from China. Even the EU prior to us reducing our corporate tax rate had a lower corporate rate then us so companies went there too! Trump is bringing these companies back to the U.S.!

felix1999
felix1999
3 years ago
Reply to  Suresh

You really are beyond DENSE!

Suresh
Suresh
3 years ago
Reply to  felix1999

you are beyond dumb.

Even Trump has threatened to impose higher tax on corp that do not create jobs and import products into USA.

Now I guess you’ll say Trump is beyond dumb !
LOL !

felix1999
felix1999
3 years ago

Mass mail in voter ballots has us very concerned……
MASSIVE FRAUD!

TD
TD
3 years ago
Reply to  felix1999

I don’t know what country Democrats think we live in.
No presumption of innocence. No recognized election results., no verification systems. a press that continues to lie to the public. “book burning” or statue toppling; erasure of American pop-culture icons.

They represent George Orwell’s 1984.

TD
TD
3 years ago
Reply to  felix1999

I don’t know what country Democrats think we live in.
No presumption of innocence. No recognized election results., no verification systems. a press that continues to lie to the public. “book burning” or statue toppling; erasure of American pop-culture icons.

They represent George Orwell’s 1984.

dad1927
dad1927
3 years ago
Reply to  felix1999

The ballots are filled in and ready to go.. -Pelosicomment image

TD
TD
3 years ago

One way to defeat the rigging is that voters just overwhelmingly vote republican that no amount of fraud will change the result.

10 years in jail by executive order can’t hurt either.

But yes, strict new laws have to be passed to fix the rigging. you would need a Republican congress, republican courts, and a republican white house to enforce. all 3.

MuhamMUDTheFakeProphet
MuhamMUDTheFakeProphet
3 years ago
Reply to  TD

“that no amount of fraud will change the result”, don’t count on that, Shillariah C-l-i-n-t-0-n and her crime family “won” the popular vote in 2016.

Laddyboy
Laddyboy
3 years ago

Yep! HilLIARy is SUPPOSED to have won the popular vote.
Many communities had 125% votes over their 100% registered voters.
Many cemetary residents voted — PROVEN.
Many pets voted.
Many ILLEGAL ALIEN FOREIGN NATIONAL CRIMINALS were ENCOURAGED to vote by 0bama — PROVEN.
Many MULTIPLE votes by ONE person — PROVEN.
Many TRUNK LOADS of votes were FOUND in vehicles — after voting booths were closed — PROVEN.
As in THIS YEAR 2020, many mailed voting papers were “MISPRINTED” or sent to the wrong State.
.
NAW!!! Voter FRAUD NEVER HAPPENED.
Voter FRAUD NEVER will happen — In a pig’s eye.
The DemocRAT National Communist party would NEVER let that NOT HAPPEN!!!

WildernessOfMirrors
WildernessOfMirrors
3 years ago
Reply to  Suresh

I didn’t hear him say anything about the corporate tax. He said taxes. Are you as demented as Joe is?

Suresh
Suresh
3 years ago

you should read more

Achmed Mohandjob
Achmed Mohandjob
3 years ago
Reply to  Suresh

One of the prime reasons for having offshored many U.S. jobs were due to vastly higher U.S. corporate taxes than our competitor’s nations.

Why do you think that APPLE doesn’t repatriate their profits?

dad1927
dad1927
3 years ago
Reply to  TD

comment image

dad1927
dad1927
3 years ago
Reply to  dad1927

comment image

Philip
Philip
3 years ago

Record taxation; no representation and Lowfo Joe wants to take mo.

tituspullo
tituspullo
3 years ago

i’m 64, and have never seen a democrat running for office tell the truth about what he is really going to do. this is off the charts weird! trump derangement syndrome has poor old nutty joe drooling in public

WildernessOfMirrors
WildernessOfMirrors
3 years ago

The last guy who promised to raise taxes lost to Reagan. Yes that would be Mondale.

Achmed Mohandjob
Achmed Mohandjob
3 years ago

Tax structure was different then. Most full-time workers paid some federal and state income tax. When approximately 45% of ALL full-time American workers pay NO federal income tax … it’s a different story.

Taxes, taxes, they’re for thee. Taxes, taxes, but not for me.

WildernessOfMirrors
WildernessOfMirrors
3 years ago

Maybe so, but I can’t imagine that corporations, even the liberals ones will be thrilled with higher taxes. And everyone is out of work now. The old gambit of raising prices may not work this time.

Achmed Mohandjob
Achmed Mohandjob
3 years ago

There is a VERY large class of voters that are a “Gimme, gimme, gimme s’more” voting block. That block cannot be overlooked.

Pay YOUR “fair share”. I want my “earned income credit” and “child care credit”. I paid NO taxes but received a ten thousand dollar refund. And, it ain’t enough.

More of those out there than we think.

felix1999
felix1999
3 years ago

I think it was an article posted here where Wall Street is quietly showing concern about a Biden presidency…

Here it is –

Wall Street Quietly Begins Warning About A Biden Presidency
By Pamela Geller – on June 30, 2020

http://b1ff5939f6.nxcli.net/2020/06/wall-street-quietly-begins-warning-about-a-biden-presidency.html/

felix1999
felix1999
3 years ago

Don’t forget – “read my lips” H.W. Bush…

WildernessOfMirrors
WildernessOfMirrors
3 years ago
Reply to  felix1999

Technically that was a promise not to raise taxes. It helped get him elected. Of course he got duped and he raised taxes and he lost to BJ Bill.

Achmed Mohandjob
Achmed Mohandjob
3 years ago

He readily could have vetoed.

WildernessOfMirrors
WildernessOfMirrors
3 years ago

He got duped on immigration. That was the deal.

felix1999
felix1999
3 years ago

I hate to say this but… inflation is already starting to happen… another larger stimulus check is being put together…. People are collecting unemployment and stimulus checks. We need more incentive to get people back to work and off the dole and stop running up our debt. We won’t always have near zero interest rates… Something has to be done to force states to open up! I don’t know how that could be done but there must be some way to do that.

Yes I am voting for Trump…. Biden would be the ultimate nightmare.

Achmed Mohandjob
Achmed Mohandjob
3 years ago
Reply to  felix1999

Although workers need an incentive to return to work, when totalitarian tyrannical governors and, in some cases, mayors continue a mandate to keep businesses closed …. to what work will they return?

felix1999
felix1999
3 years ago

It’s frustrating! I just don’t have an answer for the tyranical governors. I wish I did… but someone in his administration should have one.

Just yesterday we learned about a friend whose car repair place went out of business. W would take our cars there to be serviced. He just couldn’t hang on. He wanted to sell it and retire. They were a really nice couple and had quite a few people working for them. They were Trump people. We’d sometimes go out to lunch with the owner and if his wife was around, she’d join us – really nice people, if it was a short job. Under Obama he wanted to take out a small business loan to expand. He was told to his face that since he was not black or a minority he was ineligible. This rightfully pissed him off so he had to take the traditional route since he did not qualify under any of Obama’s racist programs. Anyway, we really feel bad for them. He had been in business for years.

The problem is when you keep pumping government money out there, you get inflation! We are lining ourselves up for that. You can already see it in stores…. We have spent trillions already on this. There is no incentive to return to work. Another example, we have accounts all over… one is with Bank of America. Branches remain closed. People won’t come back to work. They are using fear of the virus to stay home. They are getting stimulus checks and unemployment checks. When we called them about reopening this is what we were told – fear of the virus stopped them from returning to work while other banks are open.

This can’t continue and our debt is exploding! Eventually this will need to be paid back. Right now interest rates are near zero but it will not stay that way. This is why AOC or was it OMAR, LOVED it when Trump started paying people to stay home rather than work! She was probably relating it to their universal basic income fantasy. After awhile enough is enough and people need to go back to work! This is not healthy financially for our country or for our citizens, mentally/emotionally.

Achmed Mohandjob
Achmed Mohandjob
3 years ago
Reply to  felix1999

The very first thing that we need to do is stop voting for tyrants that claim to be Republican. These governors, such as Nohio’s little mikki da-whiner, are FAR worse than RINOS.

And, they easily fool us. Little mikki was a decent AG. He’s a tyrannical despot, as governor. He surely as hayull fooled me.

felix1999
felix1999
3 years ago

It’s always the same problem – who is worse and it is usually the Democrat. We truly need some DECENT people to run for office. That takes money and that’s where the compomise starts… It’s so frustrating!

dad1927
dad1927
3 years ago

keeping America shut reflects negatively on Trump… So its great for Biden. No police, no ICE, dem paradisecomment image

Here are our new police

Dave
Dave
3 years ago
Reply to  felix1999

People are Biden their time! (lol). Hard to believe that anyone would vote for tax increases. Oh, wait. Socialists would! How many are on benefits and don’t pay any tax?

Anthony Silvio
Anthony Silvio
3 years ago

comment image

felix1999
felix1999
3 years ago
Reply to  Anthony Silvio

Is Hunter Biden paying taxes on his 1.5 BILLION from China or the 80K from Ukraine and that is what we know about…. You know he isn’t nor is Joe Biden. If his son get this, imagine what Joe has hauled in over the years. He’s been a Senator from 1973 to 2009 and Obama’s VP from 2009 – 2016. That’s allot of time for Biden to collect and hide money and you know he did.

TD
TD
3 years ago
Reply to  felix1999

Biden owned by China is a deal breaker. and should be for any true American.

Michael Goldman
Michael Goldman
3 years ago

Of course he is going to increase taxes. He said it a while ago. they have to pay for all their stupid plans and ideas, and the money isn’t coming out of their pockets.

felix1999
felix1999
3 years ago

Remember our demographics have changed allot since, HWB – “read my lips no new taxes”. We have allot of people here that believe that would benefit from YOU being taxed and believing they will benefit from it.

felix1999
felix1999
3 years ago

Biden also promised to undo Trump’s VISA reforms and open our borders up like they were before. Biden is Obama in drag.

Joe Biden: H-1B Foreign Workers ‘Built this Country’
BY NEIL MUNRO 29 Jun 2020

Joe Biden told NBC News that he would immediately lift President Donald Trump’s June 22 moratorium on the inflow of H-1B contract workers if he wins the 2020 election.
https://www.breitbart.com/2020-election/2020/06/29/joe-biden-h-1b-foreign-workers-built-this-country/

What has been allowed to go on under the Bush’s Clinton’s and Obama is positively traitorous to legal American citizens concerning employment! They sicken me. They will all vote DEM if they get citizenship too – not just the unskilled migrants on VISAS and the illegals.

Trump has finally clamped down on the VISAS! This suspension is until Jan. 2021. This should have been done sooner… Trump seems to have some kind of mental block on this. His main focus has only been on blue collar manufacturing jobs or agriculture jobs. Students have been writing letter in protest about this issue!

White House Boosts Regulations to Curb Migrants, Visa Workers
NEIL MUNRO1 Jul 2020

The June 30 announcement of the “Spring 2020 Unified Agenda of Regulatory and Deregulatory Actions” shows officials are planning to overhaul the H-1B program and to narrow the huge B-1/B-2 pathway for illegal migrants. The agenda also shows officials want to withdraw work permits from the spouses of H-1B workers, and even set some curbs on the two huge “Practical Training” programs that deliver 500,000 foreign graduates into U.S jobs each year.

https://www.breitbart.com/economy/2020/07/01/white-house-reveals-pro-american-regulation-push/

In another BB aritcle a Univeristy Professor was interviewed and stated only ONE THIRD of legal American STEM graduates get STEM RELATED jobs whereas TWO THIRDS of FOREIGN STEM graduates on VISAS get STEM jobs. I don’t care if foreign students come here for education but they should not be hired as a priority over legal U.S. citizens and ideally not hired unless they offer something extra special as it used to be. I want them sent back to where they came from.

Here an excerpt –

Forbes: Donald Trump May Cancel Fortune 500’s Huge H-1B ‘Bonded Workforce’
BY NEIL MUNRO 27 Jun 2020
….
“Of the entire [American technology] workforce, only about a third of those with STEM [science, technology, engineering or math] degrees are employed in STEM jobs,” according to testimony provided by Hal Salzman, a workforce professor, to a Senate committee on February 25, 2020. He told the Senate’s judiciary committee:

Overall, our colleges and universities graduate twice the number of STEM graduates as find a job each year; that is, only about half of our STEM graduates enter the STEM workforce.

(WHY give out STEM money when foreigners get the jobs?)

The fundamental problem of U.S. and foreign IT outsourcing firms’ hiring practices is the exclusion of U.S. workers–whether native or immigrant, citizen or permanent resident—which is made possible by specially crafted legislation (special interests write the legislation and lobbyists sell it to our representatives) for this purpose; it is legislation that serves as a congressionally-provided subsidy to a highly profitable industry to hire [H-1B] guest workers at the expense of jobs for U.S. workers.

https://www.breitbart.com/economy/2020/06/27/forbes-donald-trump-may-cancel-fortune-500s-huge-bonded-workforce/

Even worse we don’t even know how many VISA people we have here! We do know we have millions. They don’t count them properly or at all on purpose!

This has been going on for decades! It’s no just in STEM jobs. Do we really need a VISA person to be a hematologist from Ghana? Or a blood pressure,height and weight taker form Costa Rica on a VISA? It’s not just IT affected by the VISA abuse.

Our VISA system desperately needs to be totally revamped to stop the abuse! It’s a total mess and favors anyone but a legal American citizen. It’s depressing and maddening making the DACA issue look like no problem at all.

Michelle
Michelle
3 years ago

Has he said that he wants all of this money for the nanny sate and yet the very corporations that Trump is trying to persuade to stay and invest in the USA will be the first ones off to if not China then Asia? Seeing as most leftists do not recognize the truth even when it hits them on the head, I just wonder how and if they will respond to this…with idiotic cheers no doubt.

Thistle
Thistle
3 years ago

Keep talking Joe,

Dan Knight
Dan Knight
3 years ago
Reply to  Thistle

*** You and yours have a wonderful week, Thistle!

John Acord
John Acord
3 years ago

Any vote for the Commiecrats is a vote to hand the country over to the Marxists backed by the Chinese Communist Party. All are CCP puppets.

CARRENO BARTOX
CARRENO BARTOX
3 years ago

Uncle Biden’s metamorphosis…

comment image

ludorsaltzmann
ludorsaltzmann
3 years ago

Democrats “legally steal” your money (taxes) so that they can RULE YOU(!), and get paid for it.

Why are folks sooo stupid?

Jane_Dowe1366
Jane_Dowe1366
3 years ago

comment imagecomment imagecomment imagecomment imagecomment image

Dave
Dave
3 years ago
Reply to  Jane_Dowe1366

“If I only had a brain!”

idahobob
idahobob
3 years ago

Hey, they are going to have to pay for all of the communist giveaways.

Philip
Philip
3 years ago

Biden is unelectable. He doesn’t even realize it. It’s almost sad… almost.

knightsstrength
knightsstrength
3 years ago

AMERICA WILL SOON LOSE ITS CONSTITUTION
https://www.pacinst.com/america.htm

Have not checked but probably correct with the amount of Jesuit Universities in the USA
Joe Biden has gotten honorary degrees from the University of Scranton (Jesuit)(1976),[43] and Saint Joseph’s University(Jesuit) (1981),[44]
Robert Hunter Biden (born February 4, 1970) is the second son of former U.S. Vice President Joe Biden and his first wife, Neilia Biden. He is a partner at Rosemont Seneca Partners, LLC, and is Counsel to Boies, Schiller, Flexner, LLP, a New York-based-law firm.[3]Hunter Biden received a bachelor’s degree from Georgetown University(Jesuit) and a Juris Doctor from Yale Law School.[7] After graduating from college, Hunter Biden was a member of the Jesuit Volunteer Corps Northwest,[2] where he met his wife.[1]

knightsstrength
knightsstrength
3 years ago

The Black Pope been the Jesuit General Pope Francis

CHAPTER 1 TARGET: AMERICA
https://www.pacinst.com/terrorists/chapter1/target.html

The Vatican’s Holocaust
http://www.reformation.org/holocaus.html

L-Dan
L-Dan
3 years ago

Yes, I want to pay more taxes and watch my 401k value reduced by half. I’m voting Joe, its the logical thing to do. Orange man bad, that is how I will punish him.

Commissioner Gordon
Commissioner Gordon
3 years ago

Biden in blackface and crickets from the sidelines.
comment image

leonore35
leonore35
3 years ago

A candidate promising to raise taxes? Does he really want to get elected?

Glen Benjamin
Glen Benjamin
3 years ago

Biden had 40 years in office and ran fir President multiple times. Anyone that votes for Biden is an idiot. He and Obama created more debt than all last Presidents combined, he will destroy savings, tax you to death, keep you unemployed, suck up to China and send the country into a tailspin. He will be at the mercy if radical left who are doing a bang up job running nyc, ny state, Seattle etc. to those voting for Biden DO NOT WHINE WHEN YOUR SCHOOLS DESTROYED AND COUNTRY GOES TO HELL FIR DECADES.

Glen Benjamin
Glen Benjamin
3 years ago

Columbus Ohio just revived statue if Columbus donated to them in 1950’s by Genoa Italy. Yet people continue to vote Democratic, they than whine about schools where Democrats bloc charters. They whine when taxes go up, then they vote again for AOC who cost NYC 25,000 plus jobs. The same idiots who will whine when no taxes are brought in or jobs.
I say F everybody who votes fir Democrats especially out west and northeast. If you suffer I am glad because you deserve it after doing the same thing over and over.
P.S. the republicans are to weak and do little to combat thus except whine on TV. Also postal union just endorsed Biden. He will give them more money as they lose billions each year. They also will control mail in ballots HMMMMMM

Glen Benjamin
Glen Benjamin
3 years ago
Reply to  Glen Benjamin

That should have read removed statue. Sorry iPad old and having major auto correct problems. Uuugghhhh

Jan Favre
Jan Favre
3 years ago

Jo rhe Marxist puppet

Merlinever
Merlinever
3 years ago

So……WHY are so many STILL planning to vote for this glow-in-the-dark train wreck???

dad1927
dad1927
3 years ago

Biden supports the terrorist burners… America and white are all racists, and must go, he thinks.comment image . This is the Biden normal

bill sexton
bill sexton
3 years ago

I will keep my tax cut money, thank you!

Steve
Steve
3 years ago

I hate to say this but this article just repeated the headline 3-4 times, gave some scanty information about how he is going to raise taxes and then poof, left me just sitting here. There was no rumination over the way he is going to raise taxes.

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