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Pete Buttigieg said that he would “roll back” the corporate tax cut portion of the Tax Cuts and Jobs Act, during a campaign speech in Knoxville, Iowa on Dec. 29. He also said that the capital gains tax rate would be raised in order to pay for his costly proposals.

We gotta roll back the Trump tax cuts for corporations that benefited the wealthy … we take those steps, common sense steps, fixing capital gains so that wealth is taxed in a way that is comparable to how work is taxed,” Buttigieg said.

The Buttigieg 35 percent rate would give the U.S. a higher rate than the United Kingdom (19 percent), China (25 percent), Canada (26.8 percent), and Ireland (12.5 percent). It would impose a tax rate higher than the current combined corporate rate across the 36 member Organisation for Economic Development and Cooperation (OECD), which is currently 23.7 percent.

An increase in the corporate tax rate would directly raise the cost of utility bills in all 50 states.

Buttigieg has also told The Indy Star that he would eliminate the Trump tax cuts.

“The campaign also exclusively provided IndyStar details about how it would pay for the $5.7 trillion in total spending Buttigieg has proposed so far, including the middle-class proposal, largely through a capital gains tax on the top 1% of all earners and through eliminating President Donald Trump’s tax cuts,” according to The Indy Star.

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

 

If you want to stay up-to-date on Democratic candidates and their threats to raise taxes, visit www.atr.org/HighTaxDems.

See more:

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Buttigieg Grills Warren for Dodging the Middle Class Tax Question

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Julian Castro Caught Lying about GOP Tax Cuts

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Kamala Harris Continues to Lie about Tax Cuts

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