715
Biden supporters mostly back him in 2024 election because they oppose Trump, poll finds
(www.theguardian.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 10 Jun 2024
715 points (100.0% liked)
News
31214 readers
6 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 2 years ago
MODERATORS
Those 2 both gave gigantic tax cuts to the rich. Biden raised corporate tax rates. I can remember every president since Nixon and Biden has been the most progressive in my lifetime.
No he didn't. We're still under the tax rates Trump set in 2018 that dropped corporate tax rates to 21% and increased rates for lower and middle class individuals.
https://en.m.wikipedia.org/wiki/Corporate_tax_in_the_United_States#Federal_tax_rates
Biden raised the minimum corporate tax rate from 0% to 15% rather than simply reverse the Trump corporate tax rate reduction.
https://www.cnbc.com/2022/08/16/watch-live-biden-to-sign-inflation-reduction-act-into-law-setting-15percent-minimum-corporate-tax-rate.html
So a very modest increase for roughly 80 companies. Really groundbreaking stuff here.
https://www.cnbc.com/2022/08/16/bidens-new-corporate-tax-hike-wont-be-material-to-most-us-companies.html
In passing the bill, they also stripped out universal child care and tax cuts for the middle class. Business as usual it seems. Lots of money for energy companies and health insurance companies and nothing for the working person.
Enough to significantly reduce the deficits and pays for some social spending and climate change efforts.
This is projected to bring in up to $30B per year. The current deficit for the year is already at $855B and projected to hit $1.6T. Hardly a drop in the bucket.
I won't argue that it's bad these corporations are now paying at least a little bit in taxes, but this is pretty pathetic for some 'landmark' legislation.
Nope. The figure is $3.6 trillion over 10 years.
https://www.hklaw.com/en/insights/publications/2021/06/biden-administrations-fy-2022-budget-and-its-tax-increases
[The Biden Administration on May 28, 2021, released its fiscal year (FY) 2022 budget...the Biden Administration proposes to increase taxes on the wealthy and corporations and to enhance Internal Revenue Service (IRS) compliance, information and enforcement initiatives, projected to raise $3.6 trillion in revenues over a decade.]
And in the future, another $4 trillion in taxes on the wealthy.
https://taxfoundation.org/blog/biden-tax-increases-2023-budget-proposal/
Your own link from earlier has this right in the header's bullet points in reference to the bill that was actually signed into law not an analysis of a proposal from a year and a half prior:
The wealthy haven't had their taxes increased so I don't know where this $4T is supposed to come from unless IRS audits are going to find $4T worth of unpaid revenue.
Because you didn't read the link. It is precisely detailed where it comes from.
Neither did you, apparently, since that link is two years old and says this $4T is a combination of revenue from Biden's BBB plan and tax increases on wealthy individuals, two things that never actually happened. BBB was spun off into the IRA which we already discussed above. Furthermore, even if these things had passed, you're double dipping on these numbers and counting things twice to come out with the figures that you're claiming in your previous post.