Joe Biden promises he won't raise taxes for people earning under $400,000 if elected
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Former Vice President Biden said he wouldn't raise taxes on households earning less than $400,000 a year.
"Nobody making under $400,000 would have their taxes raised. Period, bingo," Biden said in an interview on CNBC. Biden is seeking implement new taxes on wealthy individuals and corporations, including a rollback of the 2017 corporate tax cuts signed into law by President Trump.The presumptive Democratic presidential nominee Joe Biden promised on Friday that he wouldn't raise taxes on people earning $400,000 each year. on the wealthy and large businesses, the former vice president said the midan interview on CNBCBiden also slammed 2017 Republican tax cuts, which added around $2 trillion onto the federal debt. He said the lost revenue could have been used to help finance the federal government's response to the pandemic. 'It works for anything I look at': BlackRock's bond chief who oversees $2.3 trillion shares the 'really simple' 3-part framework that guides every investment decision he makes — and outlines 2 factors he looks for in a company "Imagine if we had that $2 trillion now as we go into, God willing, a recovery which is a long way away as I see it right now," he said. Biden has proposed a slew of new tax hikes to cover new federal spending on healthcare, education, and infrastructure. His campaign estimates the plans would raise $3.4 trillion over a decade. Elements of his policy menu include increasing the corporate tax rate to from 21% to 28%, a rollback of the Trump tax cuts.He's also seeking to tax capital gains and impose a new 12.4% payroll tax on high-earners and employers to shore up Social Security.
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