Joe Biden has been on the road touting his tax plan.
One of the key factors of that plan is that nobody making $400,000 or less (which just happens to be Joe’s salary) will see any new taxes.
This week, however, Joe took it a bit further by accidentally saying people making $400,000 or less would face NO taxes at all.
Joe’s Tax Plan
First, Joe’s original plan is going to be hard to fulfill.
There have already been holes poked into the plan due to the taxes being levied on some retirement accounts, which would clearly impact people making less than $400,000 per year.
Secondly, economists have stated there is simply no way to actually make this happen due to the trickle-down effect of such a policy.
William McBride, vice president for federal tax and economic policy at the Tax Foundation, stated, “I challenge you to find an economist who will say that is even possible.”
He added, “If you raise tax on this taxpayer here, good luck in isolating that effect to just that taxpayer.
“It’s not actually possible.”
Well, I wonder what McBride would say after hearing this…
I’m now riding with Biden. pic.twitter.com/HcgpXfZg5I
— Ian Miles Cheong (@stillgray) May 3, 2021
So, there you have it… we can all tear up our IRS forms this year and use that video to back us up when we get audited.
Joe said it, so it must be true, right?!