Norquist on Biden Threat to Raise Taxes


Posted by Adam Sabes on Friday, May 31st, 2019, 2:53 PM PERMALINK

Grover Norquist, president of Americans for Tax Reform, went on CNBC’s “Squawk on the Street” to talk about Joe Biden’s plan to repeal the Tax Cuts and Job’s Act with Rick Santelli, an editor for CNBC. [Click here for video]

“He has five times now said on TV, that he wants to repeal all of the Trump Republican tax cuts. You can calculate what it would cost you if Biden became president with a Democratic Congress,” said Norquist. “Take a look at what you paid in 2019 versus 2018, and that’s how much your taxes are going to go up for 90% of Americans.”

Norquist also discussed the Organization for Economic Cooperation and Development’s plan to help organize a new “global minimum corporate tax rate,” which he says will “never” happen. He said this would be like “OPEC for politicians and tax hikers.”

“So they all sit around the room and they all agree to raise taxes together and everyone agrees they won't cut taxes. Because the Europeans fully understand that President Trump is reelected is going to take the corporate rate from 21 to 15 percent. He wanted it to be in the first place,” said Norquist. “We're going to continue to bring individual rates down but particularly corporate rates [in] the US. We've seen how successful it's been to drop them. The Europeans cannot compete with that.”

“They want us to join their OPEC cartel. Never, never, never,” he added.

See also:

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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