Joe Biden will be the new taxman and will start by repealing Trump tax cuts
“If you drive a car, I’ll tax the street
“If you try to sit, I’ll tax your seat
“If you get too cold, I’ll tax the heat
“If you take a walk, I’ll tax your feet
“‘Cause I’m the taxman, yeah, I’m the taxman”
Were the words to the Beatles’ classic song “Taxman” a preview to a possible Joe Biden presidency? Looking at his statements during the campaign, I am convinced that Joe Biden will be the new taxman.
“First thing I’d do is repeal those Trump tax cuts,” Mr. Biden told a crowd in Columbia, South Carolina, in May 2019. A repeal of the Tax Cuts and Jobs Act would impose a significant tax increase on the hard-working people of America.
Under the Trump tax cuts, a typical family of four earning the median family income of $73,000 would receive a 58% reduction in their federal taxes — which is a tax cut of more than $2,000. That’s real money.
A single parent with one child and an annual income of $41,000 would see a 73% reduction in federal taxes — a tax cut of more than $1,300. Again, real money for that parent and child... Tune in to hear the full podcast
