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New York: Monday, June 27, 2022
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Biden Threatens To Undo Trump Tax Cuts After Claiming They Solely Benefitted The Wealthy... He's Wrong Like Usual [VIDEO]

NEWS HEADLINES: Biden Threatens To Undo Trump Tax Cuts After Claiming They Solely Benefitted The Wealthy… He’s Wrong Like Usual [VIDEO]

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As the economy continues to go in to a downward spiral, Biden got in to an argument with his own Treasury Secretary today about if the U.S economy is headed for a recession.

On Sunday, Treasury Secretary Larry Summers said his “best guess” was that we were heading in to a recession.  Earlier today, Biden contradicted Summers, saying that there is nothing ‘inevitable’ about a recession after having a conversation with him Monday morning.

Biden offered a number of solutions that he believed could reduce ‘inflationary pressures’ and prevent a recession.

One solution was to increase taxes on the wealthy, a proposal he made after threatening to undo the Trump tax cuts because they solely benefited high-earners.

Biden, per usual, is lying to the American people as the Trump tax cuts reduced taxes for the vast majority of American taxpayers.  As many as 82% saw their taxes go down.

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The Hill Reports

“No, I don’t think it is,” Biden said when asked if a recession is more likely than ever. “I was talking to Larry Summers this morning and there’s nothing inevitable about a recession.”

He has called on Congress to pass tax reform to make the wealthiest Americans and big corporations pay what he argues is their fair share as a way to reduce inflationary pressures.

“I think we’re gonna be able to get a change in Medicare and a reduction in the cost of insulin,” Biden said. “We also can move in a direction that we can provide for tax increases … on those in the corporate area as well as individuals as it relates to [former President] Trump’s tax cuts.”

Biden is essentially pushing back at remarks Summers made the previous day.

Summers said Sunday that his “best guess” is there will be a recession in the U.S.





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