Tuesday, May 7, 2019

You know that money you have in your wallet and in your bank account? According to Joe Biden, it belongs to the government

Joe Biden has chosen some interesting themes to focus on in the short time since he's announced his run for president. He started out talking about Charlottesville, which gave him an opportunity to perpetuate the lie that Trump meant Nazis when he said "decent people on both side."

Now, on the heels of the great jobs and economic numbers for April, he chooses to announce that he'd come after your money:

Democrat presidential candidate Joe Biden threatened to raise taxes during a speech in Colombia, South Carolina this Saturday.

“First thing I’d do is repeal those Trump tax cuts,” said Biden.
I guess he hasn't been reading the New York Times or the Washington Post lately:

A repeal of the Tax Cuts and Jobs Act would impose a large tax increase on the American people. Thanks to the tax cuts, a typical family of four earning the median family income of $73,000 saw a tax cut of over $2,000– a 58% reduction in federal taxes. A single parent with one child with annual income of $41,000 saw a tax cut of $1,304 -- a 73% reduction in federal taxes.

As noted by the New York Times: “Most people got a tax cut.” The NYT also stated: “To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase.” Biden is a key part of this misleading effort.
Biden also repeated a lie he made during his campaign kickoff speech, claiming only high-income households received a tax cut. The Washington Post gave this claim four Pinocchios, noting it was “clearly false.” The Post also stated: “Most Americans received a tax cut.”
More evidence of the benefits flowing from the tax cuts can be found in a recent H&R Block report, which stated, “overall tax liability is down 24.9 percent on average.” In Biden’s home state of Delaware, the report found that residents received a 24.8% tax cut. In the state where Biden made the tax hike threat – South Carolina – residents received a 23.2% tax cut
Setting aside the whole matter of how people getting to keep more of their money visibly translates into robust economic activity, the general lack of judgement shown here really has to give pause to any undecided voters out there. What on Earth prompted him to think this would be a good message at this particular time?

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