Biden Threatens to Roll Back Trump’s Tax Cuts After Claiming They Only Benefit the Rich… He’s Wrong as Usual [VIDÉO]
Published on 21.6.2022
As the economy continues to sink into a downward spiral, Mr Biden today clashed with his own Treasury Secretary over whether the US economy was heading into a recession.
On Sunday, Treasury Secretary Larry Summers said he thought we were headed for a recession. Earlier today, Mr Biden contradicted Mr Summers by saying there was nothing “inevitable” about a recession after having a conversation with him on Monday morning.
J. Biden offered a number of solutions that he said could reduce “inflationary pressures” and prevent a recession.
One such solution is to raise taxes on the wealthy, a proposal he made after he threatened to roll back Trump’s tax cuts because they only benefited high earners.
Biden, as usual, is lying to the American people because Trump’s tax cuts have lowered taxes for the vast majority of American taxpayers. No less than 82% of them have seen their taxes reduced.
The Hill reports: “No, I don’t think it is,” Biden said when asked if a recession was more likely than ever. ” I was talking to Larry Summers this morning and there is nothing inevitable about a recession”.
He called on Congress to pass tax reform so that the wealthiest Americans and big businesses pay what he believes is their fair share, to reduce inflationary pressures.
“I think we’re going to be able to get a change in Medicare and a reduction in the cost of insulin,” Biden said. “We can also go in a direction where we can provide for tax increases (…) on those who are in the business field as well as on individuals with regard to tax reductions of [l’ancien président] Trump. »
Mr. Biden essentially returns to the remarks made by Mr. Summers the day before.
Mr. Summers said on Sunday that he believes there will be a recession in the United States.