Biden’s Swelled Nat’l Debt & Trump Tax Cut

While progressive MSM is right about the Trump tax cuts mostly favoring corporations, a 2020 Reuters story concedes, “it did cut taxes on the middle class & fueled economic growth that triggered historic unemployment lows.” It pisses Biden off.

According to S. Carolina Senator Tim Scott, Mr. Biden is so upset at Mr. Trump’s tax cutter trump card, Scott suggests “Biden is willing to tank the economy” by promising to get rid of those tax breaks in order to pay for his socialist societal reformation agenda – one that has swelled the national debt to more than $33 trillion & counting. You may recall, it was Sen. Scott who helped author the 2017 tax legislation & was a key advocate in its passage. As Scott told Fox News: “The bottom line is a very simple one. You allow for more than $2.4 trillion of tax cuts to expire [as Mr. Biden has promised to do if re-elected], that means you own the largest tax increase on the American people in the history of the country.”

Fox’s Trump tax cuts perspective that clashes with those appearing in most liberal papers, including Washington Post & NY Times editorials: “The Tax Cuts & Jobs Act of 2017, which slashed rates in almost every tax bracket while also decreasing the corporate tax rate, among other things, will expire in part in December 2025. Whether those tax reforms are renewed will depend on who is in the White House & which party controls the House & Senate after the 2024 general election.”

Davd Soul