Biden to Raise Tax on Wealthy, Guarantees If You Make Less Than $400,000 You Won't 'Pay a Penny More'
During an interview with CBS News, Joe Biden said no one making less than $400,000 would pay "a penny more" with his tex plan.
"That's a guarantee, a promise," he said.
Biden's plan will undo President Trump's tax cuts for corporations and wealthy Americans. He explained that he believes taxes are a "moral issue" and that his plan is the most effective way to balance wealth inequality in America. Biden explained that the increased taxes would be used to help pay for several trillion dollars in new spending over the next decade.
Related: Trump Hits Biden on Raising the Minimum Wage
When CBS news anchor Nora O'Donnell asked whether it was a good idea to raise taxes when the U.S. economy is struggling, Biden responded, "Depending who you're raising them on," adding, "Look, if you're raising 'em on somebody who's makin' $1 billion a year, it's not a problem that they pay 39.6%, which everybody should pay, raise another $90 billion."
Read the full analysis at Fox News
