Joe Biden said in an August 2020 interview with ABC News that he would not raise taxes for Americans making less than $400,000 per year.
“I will raise taxes for anybody making over $400,000,” Biden told ABC’s David Muir.
Biden added that “no new taxes” would be raised for anyone making under $400,000.
It was a pledge that Biden repeated often on the campaign trail and post-election. In fact, he reiterated his pledge on Wednesday.
Speaking to ABC’s “Good Morning America,” Biden was asked if he would raise taxes on those who benefited from former President Donald Trump’s tax cuts.
“Yes, anybody making more than $400,000 will see a small to a significant tax increase,” Biden said, adding “If you make less than $400,000, you won’t see one single penny in additional federal tax.”
However, it appears the Biden White House has experienced a change in heart over the course of the last 24-hours.
White House Press Secretary Jen Psaki sparked a sharp selloff on Wall Street Thursday afternoon when she clarified that President Biden’s proposed tax hike would, in fact, apply to people who earn $200,000 per year if they are married to someone who makes the same amount.
What does that mean? The $400,000 threshold for Biden’s tax increases would apply to “families” rather than individuals.
Sonofagun. Who’d have thought the man who was VP to “You can keep your doctor and your plan” Obama would break his word? We can hardly wait to see what other little “clarifications” are coming next! Maybe he’ll finally reveal his definition of “common-sense gun control laws,” huh?