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9/25/20

US Presidential Elections: Is Joe Biden A "Socialist"? Not With These Tax Plans - by Ryan O'Connell

President Donald Trump loves to thunder that Joe Biden is a “socialist,” a puppet of the “radical left. But Biden’s tax proposals are generally moderate and pragmatic. They represent a necessary correction to Trump’s massive and excessive tax cuts for corporations and ultra-rich Americans.

Capitalism will remain alive and well, if Biden becomes President, and his spending plans could invigorate the U.S. economy. They won’t be installing a statue of Karl Marx in a Biden White House. You won’t see any fingerprints of Bernie Sanders or Alexandria Ocasio-Cortes on Biden’s tax proposals. There is no wealth tax. Nor are there confiscatory, 70%-plus rates on incomes above $10 million, as AOC proposed.

The top 1% of Americans would do just fine under a Biden administration. And although corporate tax rates would rise, they would still be lower than they were during the Obama Administration. That’s hardly the stuff of revolution.

 Read more at:
Is Joe Biden A "Socialist"? Not With These Tax Plans - The Globalist

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