Think About it. More food for thought.
June 28, 2020 - 05:00 PM EDT
Biden's record-setting tax increases will take your money — and your job
BY LEWIS K. UHLER AND PETER J. FERRARA, OPINION CONTRIBUTORS8,034
The views expressed by contributors are their own and not the view of The Hill
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In 2016,
Hillary Clinton ran for president proposing $1 trillion in tax increases. Would
President Trump’s blue-collar boom ever have gotten off the ground with such a back-breaking tax burden?
But now, four years later, former vice president
Joe Biden thinks he has a better idea. In his third run for the White House, Biden is proposing tax increases of nearly
$4 trillion over the next 10 years. If he wins in November and these increases were to pass, they’d be the highest in American history — indeed, in world history.
President Trump’s
2017 tax reform cut taxes for corporations, small businesses, blue-collar workers and the middle class. Since the 2016 election, employers have added
7 million new jobs and, until the COVID-19 pandemic this spring, Trump’s tax reform package created an economy that produced the
lowest unemployment in American history for Blacks, Hispanics and Asians, along with increases in wages and middle-class incomes.
