Biden Appears To Break Promise To Not Raise Taxes On Americans Making Less Than $400K
During the 2020 presidential campaign, Democratic nominee Joe Biden promised, “I will raise taxes for anybody making over $400,000,” and that there would be “no new taxes” that would be raised for anyone making under $400,000.
“So no new taxes for anyone under $400,000?” ABC’s David Muir asked. Biden replied, “No new taxes. There’s no need for new taxes.”
President Biden promised any individual earning more than $400,000 a year would see some type of tax increase under his forthcoming economic plan.
He acknowledges he’s unlikely to get support from Republican lawmakers.
— Los Angeles Times (@latimes) March 18, 2021
President Biden vs. Campaign Biden
But an announcement from the White House on Wednesday seemed to present a different math from now-President Biden.
The New York Post reported, “White House press secretary Jen Psaki on Wednesday clarified that President Biden’s proposed tax hike would apply to people who earn $200,000 per year if they are married to someone who makes the same amount.”
“Psaki said at her daily press briefing that the proposed $400,000 threshold for tax increases applies to ‘families’ rather than individuals,” the Post noted.
Ted Cruz slammed Biden’s new calculus:
What?? No…….who could have predicted that Biden wasn’t telling the truth?
This is what socialists do: they promise everyone else’s taxes are going up; but you always know YOUR taxes are going up too. https://t.co/1ESQxhzB8o
— Ted Cruz (@tedcruz) March 18, 2021
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Biden’s ‘Read My Lips’ Moment?
That is different than what candidate Biden originally promised.
It is actually different than what Biden said in his recent ABC News interview with George Stephanopoulos, the first major sit-down interview the president has granted.
“Yes, anybody making more than $400,000 will see a small to a significant tax increase,” Biden told Stephanopoulos. Biden added, “If you make less than $400,000, you won’t see one single penny in additional federal tax.”
CNBC reiterated that Biden had promised no new taxes under $400,000.
What changed between now and then?
Biden campaigning: let me be clear, I won’t raise your taxes!
Biden after the election: allow us to clarify, your taxes will be raised.
And yet millions of people fell for this idiocy. Amazing. https://t.co/AYGmqHYBhy
— Nathan Dahm (@NathanDahm) March 18, 2021
Apparently saying “anybody” making over $400,000 would be the only individuals to see a tax increase applies to more bodies than Biden originally let on.
Looks like Biden’s voters might have been deceived.
Nor would it be surprising if more tax increases and big budget spending continues under a Democratic White House and congressional majority.
After the $1.9 trillion COVID stimulus package, Reuters reported that the “next big spending push” is on the horizon, possibly having to do with infrastructure.
2022 could change all that, but don’t underestimate the damage that could be done in just two years.
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