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Joe Biden said he would eliminate the Tax Cuts and Jobs Act if elected, during a town hall in Iowa on Friday.

“What I’d be focusing on is eliminating the $1.9 trillion tax cut that [Trump] passed,” Biden said in Cedar Rapids.

Biden’s promise to repeal the tax cuts is a promise to raise taxes. If the tax cuts were repealed:

  • A family of four earning the median income of $73,000 would see a $2,000 tax increase.
  • A single parent (with one child) making $41,000 would see a $1,300 tax increase.
  • Millions of low and middle-income households would be stuck paying the Obamacare individual mandate tax.
  • Utility bills would go up in all 50 states as a direct result of the corporate income tax increase.  
  • Small employers will face a tax increase due to the repeal of the 20% deduction for small business income.
  • The USA would have the highest corporate income tax rate in the developed world.
  • Taxes would rise in every state and every congressional district.
  • The Death Tax would ensnare more families and businesses.
  • The AMT would snap back to hit millions of households.
  • Millions of households would see their child tax credit cut in half.
  • Millions of households would see their standard deduction cut in half, adding to their tax complexity as they are forced to itemize their deductions and deal with the shoebox full of receipts on top of the refrigerator.
     

In Iowa, where Biden spoke, households who made the state average income of $58,570, received a tax cut of around $1,423.99, according to a recent Tax Foundation report.

Even left leaning news outlets confirm the good news about the GOP tax cuts:

CNN: “The facts are, most Americans got a tax cut.”

CNN: “In fact, estimates from both sides of the political spectrum show that the majority of people in the United States of America did receive a tax cut.”

New York Times: “Most people got a tax cut.”

Washington Post: “Most Americans received a tax cut.”

FactCheck.org: “Most people got some kind of tax cut in 2018 as a result of the law.”

FactCheck.org: “The vast majority (82 percent) of middle-income earners — those with income between about $49,000 and $86,000 — received a tax cut that averaged about $1,050.

H&R Block: “The vast majority of people did get a tax cut.”

New York Times also noted the “sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase.”

In Biden’s home state of Delaware, households making the average income of $62,852 received an average tax cut of around $1,422, according to a recent Tax Foundation report

Biden also lied to the American people when he ran for Vice President in 2008 when he repeatedly said he would not support any form of any tax that imposed even “one single penny” of tax increase on anyone making less than $250,000. Biden shattered that promise upon taking office.

If you want to stay up-to-date on their threats to raise taxes, visitwww.atr.org/HighTaxDems.

See more:

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Elizabeth Warren on Corporate Tax Cuts: “I really want to see them rolled back.”

Bill de Blasio Calls for Corporate Tax Rate Hike

Amy Klobuchar: Raise the Corporate Tax Rate to 25%

Biden on capital gains tax: “We should raise the tax back to 39.6 percent”

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Supposed “Moderate” Democrat John Delaney Wants to Impose Carbon Tax on the American People

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VIDEO: 2020 Democrats Will Raise Your Taxes

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Julian Castro: “We’re going to have to raise taxes.”

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Biden tweet: Ignore the fact I’ve already called for middle class tax hikes

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NYT: Bidencare Will be Funded by “rolling back” GOP tax cuts

Kamala Harris: I Will Repeal “That Tax Bill”

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Kamala Harris Continues to Lie about Tax Cuts

Jay Inslee: “Repeal the Trump Tax Cuts”

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Kamala Harris: When I Enter Office “I Will Repeal” the TCJA

Biden: “First thing I would do as President is Eliminate the President’s Tax Cut.”

Bernie Sanders claims people would be “delighted to pay more in taxes”

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Kamala Harris: I Will Repeal Tax Cuts “on day one”

Biden again says capital gains tax is “Much too Low”

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Biden: “When I’m President, if God willing I am, we’re going to reverse those Trump tax cuts.”