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

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Posted by Adam Sabes on Thursday, July 25th, 2019, 5:04 PM PERMALINK

Yesterday, Democrat presidential candidate Julian Castro said“we’re going to have to raise taxes” and “repeal and replace” the GOP tax cuts.” Castro made the remarks at the NAACP annual convention in Detroit, joining a long list of Democratic presidential candidates threatening to impose tax increases if elected

Here's the key exchange:

Moderator: “How can the nation pay its bills without raising taxes?”

Julian Castro: “Well, I think that part of the answer is that we’re going to have to raise taxes. And we’re going to begin by repealing and replacing the Trump tax cuts.

If Castro and the Democrats repealed the Tax Cuts and Jobs Act,the following would happen: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.
  • 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.

According to an H&R Block report, Americans received significant tax relief from the GOP tax cuts: “overall tax liability is down 24.9 percent on average.” The report found that in Castro’s Texas, taxpayers received a 25.6% tax cut on average.

In Castro’s home state of Texas, households making the average income of $59,206 saw an average tax cut of around $1,324 according to a recent Tax Foundation report.

Even left-leaning and establishment media outlets confirm the good news arising from the Tax Cuts and Jobs Act:

Castro now joins Joe Biden and Kamala Harris in threatening to undo the Tax Cuts and Jobs Act during their presidential campaign. If you want to stay up-to-date on their threats to raise taxes, follow atr.org/HighTaxDems.

See more:

Biden and Harris: Raise the Corporate Tax Rate

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

Kamala Harris: “I Will Reverse” Trump’s Tax Cuts

Kamala Harris Calls for Repeal of Tax Cuts Four Times in Three Minutes

Julian Castro Caught Lying about GOP Tax Cuts

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

Kamala Harris: I Will Repeal “That Tax Bill”

Cory Booker: “I do support” Imposing Carbon Tax on Americans

Harris: “We are Going to Repeal That Tax Bill”

Biden: I Will Raise Corporate Tax Rate to 28%

Kamala Harris Continues to Lie about Tax Cuts

Jay Inslee: “Repeal the Trump Tax Cuts”

Biden Running Ads to “Repeal Trump’s Tax Cuts.”

VIDEO: Ten Times Biden Threatened to Repeal Tax Cuts

Here’s what happens if Dems repeal tax cuts

VIDEO: 10 Times 2020 Democrats Have Threatened to Repeal TCJA

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”

Biden: Tax Cuts Will be “Gone” If I’m Elected

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

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

Biden: Capital gains tax “much too low”

VIDEO: Five Times Biden has Threatened to Repeal Tax Cuts

Biden: “First thing I’d do is repeal those Trump tax cuts.”

Joe Biden broke his middle class tax pledge

“Mayor Pete” Calls for Steep Tax Hike on Homes and Businesses

Kamala Harris Vows Repeal of Tax Cuts “on Day One”

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

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