Biden Lies at Town Hall, Claims Trump Tax Cut Only Benefited the "Top 2% of the Nation"

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Posted by ATR on Wednesday, January 22nd, 2020, 12:44 AM PERMALINK

Joe Biden lied at a town hall on Tuesday in Ames, Iowa when he said that the Trump tax cut "only affects the top 2% of the nation."

Watch the Biden video below:

Biden is lying when he says that the Tax Cuts and Jobs Act only affect the "top 2%" of Americans, and even left-leaning and establishment media outlets confirm the good news arising from the Tax Cuts and Jobs Act:

If Biden gets his way and repeals the TCJA, as he has said on numerous occasions, Americans will pay significantly more in taxes. If he and the Democrats repeal the Tax Cuts and Jobs Act, the following would happen:

  • 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, higher than the United Kingdom (19 percent), China (25 percent), Canada (26.8 percent), and Ireland (12.5 percent). 
  • 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.
     

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, visit www.atr.org/HighTaxDems.

See more:

Buttigieg Lies About Trump Tax Cuts on MSNBC

Buttigieg Calls for “Wholesale” Rollback of Trump Tax Cuts

CNN: Sanders Would Repeal the Trump Tax Cuts

Warren Falsely Claims Her MFA Plan Will Not Raise Middle Class Taxes by “One Thin Dime”

Biden: Sanders Tax “Doesn’t Even Come Close” to Paying for Medicare for All

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