Joe Biden's expansive economic plans may be too optimistic, experts say
Sep 17, 2020 1 min, 27 secs
Biden on Thursday released a new analysis to make the case that he would plow trillions of dollars in new tax revenues back into America’s middle class while President Trump’s economic policies exacerbate wealth inequality.

The Biden campaign said people who earn less than $400,000 per year won’t see their taxes go up at all under his plan and that the middle class will benefit from several new tax credits, such as an expansion of the child tax credit for the duration of the coronavirus pandemic.

Biden said at a CNN town hall Thursday evening.

The Biden campaign pointed to the 2017 GOP tax cuts, which lowered taxes for most Americans, to argue that the benefits were disproportionately skewed toward the wealthy.

Trump’s new push to cut capital gains taxes would flow to the top 1% of earners, according to the Biden analysis.

Chris Edwards, director of tax policy studies at the libertarian-leaning Cato Institute, took exception with the Biden campaign’s contention that Mr.

Biden’s major economic plans would increase spending by $5.4 trillion over the next decade, according to an analysis this week from the University of Pennsylvania’s Penn Wharton Budget Model.

Penn Wharton said households with an adjusted gross income of $400,000 per year or less wouldn’t see their taxes increase directly under Mr.

Biden wants to increase the top individual tax rate back up to 39.6%, from 37%, and increase the corporate tax rate from 21% to 28%

Edwards said the Penn Wharton model is too optimistic, particularly when it comes to how much Mr

“The health crisis has set incomes back this year, but the economy should come roaring back when COVID-19 is conquered as long politicians focus on restraining taxes, cutting spending and paring back regulations,” he said

1. Joe Rogan Has An Explanation for Why Presidential Hopeful Kanye West Is So Misunderstood — 'He's Got a Different Power Source' - Showbiz Cheat Sheet
Oct 26, 2020 # entertainment 34 secs
2. Jerry Jeff Walker, Texas troubadour who wrote ‘Mr. Bojangles,’ dies at 78 - The Washington Post
Oct 25, 2020 # politics 2 mins, 9 secs
3. Noah Cyrus Deemed X-Rated In Fully Sheer Bodysuit - The Blast
Oct 23, 2020 # entertainment 36 secs
4. Arnold Schwarzenegger strolls the streets of downtown for statues after having heart surgery at Cleveland Clin - Cleveland 19 News
Oct 24, 2020 # politics 27 secs
5. iPhone 12 Ceramic Shield Still 'Scratches at Level 6 With Deeper Grooves at Level 7' in Mohs Hardness... - MacRumors
Oct 28, 2020 # technology 49 secs
6. Maine CDC reports increase of 31 coronavirus cases, 38 new recoveries - WMTW Portland
Oct 24, 2020 # health 32 secs
7. Zahlungsdienstleister: Wirecard-Insolvenzverwalter verkauft US-Tochter an Finanzinvestor
Oct 22, 2020 # breaking 30 secs
8. Woman Arrested at Applebee's After Demanding High Chairs for Twins - TMZ
Oct 28, 2020 # entertainment 37 secs
9. SpaceX Falcon 9 rocket ties turnaround record, nears 1000 Starlink satellites launched - Teslarati
Oct 24, 2020 # science 46 secs
10. Los Angeles celebs celebrate Dodgers' win -
Oct 28, 2020 # politics 57 secs
11. Hands On: iPad Air 4's display, Touch ID change pushes the line forward - AppleInsider
Oct 24, 2020 # technology 1 min, 23 secs
12. Fauci: Trump has not attended a White House coronavirus task force meeting in 'several months' - USA TODAY
Oct 23, 2020 # politics 1 min, 56 secs
13. Eyes turn to Texas as early voting surge surpasses 2016
Oct 25, 2020 # breaking 1 min, 13 secs
14. A tectonic plate 'lost' for 60M years is found hiding under the Pacific Ocean - Fox News
Oct 23, 2020 # science 1 min, 8 secs
15. Colon Cancer Screening May Soon Be Covered Starting at Age 45 - Lifehacker
Oct 28, 2020 # health 35 secs
16. The Vamps Snag U.K. No. 1 With 'Cherry Blossom' - Billboard
Oct 26, 2020 # entertainment 42 secs


Get monthly updates and free resources.


© Copyright 2020 365NEWSX - All RIGHTS RESERVED