November 15, 2019

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BIDEN SAYS HE’LL ELIMINATE CAP GAINS TAX — BEFORE SAYING HE’LL DOUBLE IT

Oct 16, 2019 |

When asked about taxes, Biden said he would “eliminate” the capital gains tax, before correcting himself, saying he would increase it to 39.5 percent, doubling it

During the Democratic debate tonight, former Vice President Joe Biden looked confused, and stumbled through answers.

When asked about taxes, Biden said he would “eliminate” the capital gains tax, before correcting himself, saying he would increase it to 39.5 percent, doubling it.

8e7LFKFe_normal BIDEN SAYS HE’LL ELIMINATE CAP GAINS TAX — BEFORE SAYING HE’LL DOUBLE IT [your]NEWS

Curtis Houck

@CurtisHouck

What did Joe Biden say here? Anyone? No? Okay, that’s what I’m thinking too

8e7LFKFe_normal BIDEN SAYS HE’LL ELIMINATE CAP GAINS TAX — BEFORE SAYING HE’LL DOUBLE IT [your]NEWS

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“I would eliminate the capital gains tax,” he said, “that, I would, I would raise the capital gains tax to the highest rate of 39.5 percent, I would double it, because guess what? Why in God’s name should somebody who’s clipping coupons in the stock market make, in fact, pay a lower tax rate than someone who, in fact, is, like I said, a school teacher and a firefighter. It’s ridiculous, and they pay a lower tax.”

Biden continued, “Secondly, the idea that we in fact engage in this notion that there’s 1 point— there’s 1 trillion, 640 billion dollars in tax loopholes. You can’t justify, at minimum 600 billion dollars of that.

“We can eliminate it all,” Biden contended. “I could go into detail if I had the time. Secondly, I mean thirdly, what we need to do is we need to go out and make it clear to the American people that we are going to.”

Biden said “we’re going to raise taxes on the wealthy, we’re going to reduce tax burdens on those who are not.”

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