In an interview over the weekend, Democratic Presidential nominee Joe Biden falsely said that Americans making under $400,000 would not see a tax hike under his plans. This is demonstratively false, as evaluated by right and left-leaning think tanks alike.
- Five independent analyses have concluded that Biden would raise taxes on middle class Americans:
- The Tax Policy Center concluded Biden’s “proposals would increase taxes on average on all income groups.”
- The Tax Foundation concluded Biden’s plan would lead to higher taxes “across all income groups”
- The American Enterprise Institute concluded that “households at every income level” would see higher taxes.
- A Penn Wharton budget model analysis concluded that taxes would go up across all income levels
- The Committee For A Responsible Federal Budget concluded that taxes would go up across all income levels.
- Biden’s formal tax plan doesn’t even include other taxes that Biden has endorsed, which would raise taxes on the middle class:
- Biden’s $4 trillion tax hike is more than double what Hillary Clinton proposed, and is the largest proposed tax hike in recent history.
- Biden’s tax plan would shrink the economy and kill an estimated 585,000 jobs.