Biden Criticizes The Rich, Promises To Undo Every Trump Tax Cut

OPINION | This article contains commentary which reflects the author's opinion.

Presumptive Democratic presidential nominee Joe Biden has promised voters that he will undo a tax cut that President Trump signed into law during his first year in office.

The Washington Examiner report Biden said during a donor meeting on Monday that he was “going to to get rid of the bulk of Trump’s $2 trillion tax cut.”

Speaking candidly, Biden admitted many Americans would not like him to repeal President Trump’s 2017 tax law: “A lot of you may not like that, but I’m going to close loopholes like capital gains and stepped-up basis.”

Biden argued Trump’s tax cuts, which were followed by the lowest unemployment figures in modern American history, put the country into a debt that will be hard to pay off.

“Folks, this is going to be really hard work, and Donald Trump has made it much harder to foot the bill,” he told the group.

“We have to think as big as the challenge we face. But this is America. There is nothing we cannot do if we do it together,” Biden continued. “But I think the country is ready.”

The former vice president’s focus on the 2017 Tax Cuts and Jobs Act comes as no surprise as it is one of President Trump’s greatest personal accomplishments.

During his 2016 presidential campaign, Trump promised across-the-board tax cuts and the construction of a southern border wall.

While the wall is still under construction, Trump delivered on the tax cuts. Now, Biden and Democrats are trying to paint the cuts as a bad thing.

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The Washington Examiner reports:

Critics point to the cost, estimated in the trillions over 10 years, and disproportionate benefit to the wealthy as reasons to repeal it.

In his remarks, made during a digital fundraiser that brought in at least $2 million for his campaign, Biden pledged to raise the corporate tax rate to 28%. The GOP’s tax law cut that rate from 35% to 21%.

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