Tax Policy and Economic Fairness

SOURCE www.breitbart.com
President Biden calls for an increase in taxes on the rich during a visit to Scranton, Pennsylvania. He aims to make the tax code fairer, proposing a 25% minimum tax rate for billionaires. The upcoming 2024 presidential election will determine the fate of Trump's tax cuts. The Tax Cuts and Jobs Act (TCJA) led to wage increases and job growth, benefiting small businesses.

Key Points

  • Biden proposes a 25% minimum tax rate for billionaires
  • 2024 election will determine fate of Trump's tax cuts
  • TCJA led to wage increases, job growth, and benefits for small businesses

Pros

  • Biden's push for a fairer tax code to benefit regular American citizens
  • Potential job growth and wage increases as seen under the TCJA
  • Small businesses benefited from tax cuts, enabling wage increases for employees

Cons

  • Potential tax increases on middle-class Americans under a Biden victory