President Biden will head to Pennsylvania on Tuesday to make the case that the rich and corporations don't pay the bulk of taxes in America. Still, his own Treasury Department refutes his numbers.
President Joe Biden delivers remarks on student loan debt at Madison College, Monday, April 8, 2024, in Madison, Wis. President Biden will head to Pennsylvania on Tuesday to make the case that the rich and corporations don’t pay the bulk of taxes in America. Still, his own Treasury Department refutes his numbers.
As Mr. Biden tells it, the tax increases are necessary to address budget shortfalls and help reduce the deficit. He argues the revenue should come from the wealthy and corporations because they simply aren’t paying their share. But Mr. Biden’s own Treasury Department disputes that. The top 1% in America pay over 20% in income taxes and more than 30% in all federal taxes, according to the department’s data.
Mr. Biden will then travel to Pittsburgh on Wednesday and hold a campaign event in Philadelphia on Thursday, the campaign said. During those appearances, Mr. Biden will contrast his economic vision with that of former President Donald Trump, the presumptive GOP nominee.
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