Democratic Presidential nominee Joe Biden’s tax plan has been very clear: no increased income taxes on Americans who make less than $400,000 per year per household.
Somehow GOP chairwoman Ronna Romney McDaniel believes that 82% of Americans meet that threshold.
Joe Biden would raise taxes on 82% of Americans, and we cannot afford it! https://t.co/b81J9a3pjx
— Ronna McDaniel (@RonnaMcDaniel) October 11, 2020
Biden’s tax proposal would eliminate major portions of the Trump Tax Bill passed in 2017, which gave that majority of benefits to the top 2% in the wealth bracket. While some payroll taxes would be removed, they amount to small increases in payroll taxes, which would be made up in income tax credits and tax rates.
Trump tax bill, however, resulted in an increase in federal deficits while providing little relief for working class families. Infamously, one woman, then-House Speaker Paul Ryan bragged, said the $1.50 per week payroll tax break would pay for her annual Costco membership.