Chief financial adviser Joe Biden said there was no evidence that raising income taxes could hurt long-term investments in the US economy, as the White House plans to fight for months on its policy of forcing rich people to pay Increase inflation.
Speaking to reporters at the White House on Monday, Brian Deese, director of the National Economic Council, said there had been “no” agreement “between income and income taxes or economic growth over the past 30 or 40 years.
“Everywhere you look today, the tide of protectionist sentiment is flowing. There is no evidence of a significant increase in temporary income,” Deese said.
“There are many reasons to do this, including if you look at where most of the working capital and the original source come from, it comes from pension money, financial income. [and] organizations that do not pay taxes. And because, at the end of the day, a lot of things make a financial decision, ”he added.
Biden this week is expected to launch a new financial package that could cost more than $ 1.5tn in government child care, paid leave, and education programs, plus access to first-grade classes. The plan will be discussed when Biden delivers his first address at the joint congressional hearing, at the end of the 100th day as President.
Paying for the package, the White House is making a serious effort raise taxes among the richest people in the United States, in addition to the double taxation of high income taxes and the contributions of taxpayers earning more than $ 1m a year, put it at hit path and Wall Street and Silicon Valley.
Any plan must be approved by lawmakers, who could be the best to give Democratic officials on Capitol Hill as well as a fortune that includes $ 2.5bn architectural plan they are helped by the raising of corporate taxes.
The White House is not only expected to face serious opposition from Republicans over its plans to raise taxes, but also possible doubts. Leaders of Democracy in swing governments even generous Democrats from rich urban areas and he says. Business groups should also strongly encourage any increase.
Officials in Biden speculate that the increase in taxes for the wealthy may not be as politically dangerous as they fear, and may become popular following a lucrative market for the richest families in America during the coronavirus epidemic.
Officials in Biden have also confirmed that whatever happens to wealthy families, which account for 0.3% of taxpayers’ income, will be increased by the benefits available, which Deese said will help “participate in employment and economic competition in the future”.
Deese also said former Republican President Ronald Reagan encouraged the equality of income tax with ordinary money, which is what Biden’s management is trying to do.
However, while Reagan raised prices to 28%, Biden wants to raise income taxes for earners from 20% to 39.6%, up to 43.4% if medical care is included.
Deese, a former Obama finance minister, also said Warren Buffett, a money broker, supported the similarity between the two prices, on the grounds that he should not have to pay more than his secretary.