“First thing I’m gonna do is repeal this Trump tax cut,” Democratic Presidential nominee Joe Biden told a crowd of supporters in South Carolina in May of 2019.
Make no mistake, your taxes will increase under a Joe Biden presidency.
Biden has proposed the biggest federal tax package in recent history — double that of what Hillary Clinton proposed. His tax plan would raise taxes on 80 percent of Americans , shrink the economy by an estimated 1.5 percent, and kill 585,000 jobs. Biden’s plan would raise taxes by $4 trillion and increase the U.S. business tax rate from 21 to 28 percent, a move that will make it more expensive to do business in the U.S. than in China.
Biden wants to expand the scope of government, calling for $775 billion in new taxes and government spending. His energy plan calls for eliminating oil, gas, and coal, costing $4.5 trillion. His health care plan would cost an estimated $2.25 trillion. He supports free tuition at public colleges and universities for anyone making under $125,000 a year, and forgiving a minimum of $10,000 in federal student loans. Not to mention, Biden supports free healthcare, college education, and Social Security benefits for illegal immigrants.
Taken together, Biden’s policy proposals would cost at least $10 trillion—paid for through tax hikes on the American people.
To make matters worse, Biden has attacked President Trump’s efforts to institute a payroll tax holiday for American workers to provide financial relief for families and individuals impacted by the coronavirus. Democrats in Congress sabotaged negotiations with absurd demands, so now, thanks to President Trump alone, working families will soon be receiving bigger paychecks as our economy reopens.
Biden claims the move will cut into Social Security – a blatant falsehood. Even Nancy Pelosi once touted the “boost” for families from a payroll tax cut, and said she did not “worry” that it would hurt Social Security.
President Trump has made it clear he will always fight to protect Americans’ hard-earned Social Security benefits. Joe Biden can’t say the same. Biden has a long record of trying to freeze Social Security benefits, and he got caught lying about it. “When I argued we should freeze federal spending, I meant Social Security as well,” Biden once proudly boasted. “And I not only it tried it once. I tried it twice. I tried it a third time, and I tried it a fourth time.”
Biden is still trying to undermine Social Security. He wants to give amnesty to millions of illegal aliens and has even implied they deserve to receive Social Security benefits. Biden will always put what the radical left wants before protecting American seniors.
President Trump built the strongest economy in U.S. history—and he’s doing it again. A Biden presidency would stop our economic recovery dead in its tracks.