In a recent development in Washington, — On Tuesday, President Joe Biden will visit Scranton, Pennsylvania, his hometown, to address the issue of taxation and his views on the relative merits of billionaires and ordinary Americans.
After U.S. Tax Day, Biden will give a speech that will "drive home a simple question: 'Do you think the tax code should work for rich people or for the middle class?'" according to a Friday release from his team. Like Donald Trump, the president has stated his opinion on the matter.
Inflation is still going strong and people are feeling the pinch in their wallets, but the president of the Democratic Party is trying to persuade people that he is the best candidate for president, not the Republican nominee, Donald Trump
who is expected to win the nomination in November. Voters continue to hold Biden responsible for price increases, according to surveys, even if the labor market is doing well, the stock market is at near-record highs, and inflation has fallen from its peak.
A minimum tax of 25% on billionaires has been recommended by Biden, who frequently discusses his middle-class background and the issues that Americans face at the dinner table. He predicted that it will bring in $500 billion over a decade.
"Consider the possibilities for the United States," Biden remarked. "Listen, everyone, picture a world where paid leave, affordable home care, elder care, and child care are all norms in the future." Additionally, Biden's tax payments may soon be available to the public. His tax returns are often released around Tax Day.
While speaking at a fundraiser for billionaire businessman John Paulson, Trump promised to seek a renewal of the Republican-approved tax cuts that he had enacted in 2017. Tax cuts of $1.5 trillion benefited most Americans, but the general public did not reap the bulk of those benefits. The wealthy, rather than companies, reapered the greatest rewards.
The Trump campaign reported that $50.5 million was raised at the fundraiser, which is a new record.
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