Biden blasts Republicans for wanting to raise taxes
Last updated on July 18th, 2023 at 01:51 pm
The moment that Mitch McConnell has been fearing became reality, as Biden went after the Republican plan to raise taxes on non-rich people.
Video of President Biden:
Biden said during remarks about inflation:
All of my plan is focused on lowering cost for the average family in America. To give them just a little bit of breathing room.
And what is the congressional Republican plan? They don’t want to solve inflation by lowering your costs. They want to solve it by raising your taxes and lowering your income. I happen to think it is a good thing when American families have a little more money in their pockets at the end of the month. Republican congress don’t seem to think so. Their plan has actually made working families, going to make more working families poor.
You don’t have to take my word for it. It is in writing. They have made their intentions perfectly clear. Senator Rick Scott of Wisconsin (Florida), remember, they laid it all out in a plan as the ultra MAGA agenda. Their plan is to raise taxes .
The average tax increase would be about $1500 per family. They’ve got it backwards in my view. I proposed a minimum tax for billionaires. In recent years, the average billionaire has paid about 8% in federal taxes.
Congressional Republicans have proposed increasing taxes on teachers and firefighters. 55% of the largest corporations pay net-zero and federal taxes in 2020. That just isn’t right. That’s why I propose a minimum tax for corporations. Their plan would also raise taxes on 82% of small business owners, making less than $50,000 a year. But it would do nothing to help, to hold big corporations and companies accountable. Inc. About it. Republicans in Congress are so deeply committed to protecting big corporations and CEOs that they would rather see taxes on working American families go up and try to depress their wages to take on inflation. Never mind the fact that many of these companies are recording record profit margins, even as, or as prices, as they raise prices records amounts.
Mitch McConnell and Rick Scott have been fighting about the tax plan that Scott is trying to get Senate Republican candidates to run on since he announced it.
McConnell continues to say that the plan will never see the light of day, but the damage has been done.
President Biden has made it a central part of the Democratic message to voters in the midterms, and what McConnell feared most is well on the way to happening.
A Democratic electorate that is motivated by the potential overturning of Roe now has an economic message that supporting a Republican means higher taxes.
At the current pace, McConnell’s drams of ever becoming Senate Majority Leader again will be dead by November.
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