Republican Group Accidentally Proves Trump Is Lying About Biden's Tax Plan

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Published on 18 Oct 2020, 19:00
A conservative think tank has accidentally proved that Joe Biden's proposed tax plan would actually only raise taxes on the wealthy elite in this country, destroying one of Donald Trump's favorite talking points. Trump has repeatedly claimed in recent weeks that Biden's plan would mean that you pay more in taxes, but Trump's own allies have now proven that there is no truth to that at all. Ring of Fire's Farron Cousins discusses this.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

For the last few weeks now, Donald Trump has been beating his chest, swearing to the public. That Biden is going to raise your taxes. If he is elected president, at one point, he even said, Joe Biden is going to quadruple the amount of money you pay in taxes. It doesn't matter how much money you make. If you're on the low end of it. If you're on the highest end of the income spectrum, Joe is going to raise your taxes. There's nothing you can do about it. He is a tax and spend liberal or so Trump has been telling us, he said it multiple times in the debate. The one debate that he agreed to do, uh, here's the thing. Trump's got some good friends over at the American enterprise Institute. It conservative think tanks. So they decided to look at Biden's plan to crunch the numbers and to find out just how bad it's going to be.

Not just for the American people, but for the overall economy. And according to the study that the American enterprise Institute published this week, Joe Biden's tax plan wouldn't hurt anybody except the top 5% of income earners. And it wouldn't even hurt them. It would just raise their taxes. But if you you're not in the top 5% of income earners, then you probably not going to see your taxes raised. Oh, and as for, you know, hurting gross domestic product in the United States, you know, hurting the overall economy, no, it may, it may reduced GDP by 0.16% over 10 years. But the study also points out that since these tax increases are actually going to be used on social programs, uh, those social programs are probably gonna have a big economic benefit. So you're going to see an increase in GDP rather than the decrease of 0.1, 6% over 10 years, moral of the story, Joe Biden's tax plan is good. It doesn't hurt working class people. It doesn't hurt middle-class people. It doesn't hurt. Upper-middle-class people, it taxes the wealthy at a rate closer to where they should be taxed. It's not perfect. We'd like to see it go even higher. They can afford it. And considering they have benefited the most from the United States, from our economic system, it only seems right that they should pay a little more for it. Right? That's fair.

That's equity. That's what that is. But here's the thing we are going to hear, especially with two weeks left to this election, two weeks in a day or two, uh, we're going to hear relentlessly about Joe Biden's tax plan, allegedly doing this, allegedly doing that point to this American enterprise Institute, study a link to the article about it in the description of this video, find it book, market, send it out, tweet it, Facebook it point everyone, you know, to it because this is an Uber conservative group that hates tax a tax increases hates it, but even they looked at Joe Biden's tax plan and we're forced to admit the obvious. And that is Donald Trump is lying about Joe Biden, wanting to raise your taxes.