Former Vice President Joe Biden said he would raise taxes, if elected in 2020, during night two of the first Democrat presidential debate on Thursday.
Biden, the Democrat frontrunner, was asked at the debate about prior remarks he made praising Wall Street’s positive influences.
“Donald Trump thinks Wall Street built America, ordinary middle class Americans built America,” he said.” My dad used to have an expression… a job is about a lot more than a paycheck. It’s about your dignity, it’s about respect… too many people who are in the middle class and the poor have had the bottom fall out under this proposal.”
In order to restore dignity to the middle class, Biden said the country would need to expand health insurance, further educational opportunities, and take care of the environment. For all of that to be possible, Biden explained the next president would need to revaluate the tax cuts that President Donald Trump passed in 2017.
“Look Donald Trump has put in a horrible situation, we do have enormous income inequality,” he said. “The one thing I agree on is we can make massive cuts in the $1.6 trillion dollars in tax loopholes out there, and I would be going about eliminating Donald Trump’s tax cuts for the wealthy.
Since announcing his campaign, Biden has repeatedly attempted to paint Trump’s tax cuts as only benefiting the super wealthy. That claim, however, has largely been debunked, even by liberal outlets like The Washington Post, which found the average family making between $50,000 and $75,000 annually got a tax cut of almost $1,000.