Joe Biden announces a tax cut for middle-class families in America

Joe Biden announced a tax cut for the middle class and an increase for the wealthy (Image: Reuters)

US President Joe Biden announced this Thursday It will make a tax cut that will benefit about 50 million middle-class families, While raising them for the rich.

In a letter from the White House, Biden said it would be a “historic tax cut for the middle class.”Although he did not provide details about it.

A lot of His speech was intended to address the larger and wealthier corporations, For those advised that they should start paying their ‘fair share of taxes’.

In this sense, he stressed that the country currently faces the option of continuing as before, with large corporations benefiting “significantly” from the growth of the economy, or Follow a new path where everyone is favored.

US President Joe Biden has announced a tax cut that will affect nearly 50 million middle-class families (Image: Reuters)
US President Joe Biden has announced a tax cut that will affect nearly 50 million middle-class families (Image: Reuters)

The data is crystal clear: Over the past forty years, the wealthy have become richer and many companies have lost a sense of responsibility to their workers, their communities and country.

Biden He pointed out that in the past there were company executives who were paid twenty times higher than their employees, Today, they charge 350 times as much.

“How can that be? 55 of the nation’s largest corporations pay zero dollars in federal income tax? They earned about 40 thousand million dollars in 2020 and paid nothing.”

For Biden, The United States is currently going through a “tipping point”, at a time when decisions can lead to change In the course of the nation for years and decades.

“As I said when I announced that I would run (for the election), I think this is the time for big potential change, this is the time to get workers back into the economy, The moment you prove to the Americans that the government is working for them, not just for the big companies and those at the top,” he stressed.

He attacked the president and accused major corporations of evading about $116 billion from the treasury (PHOTO: EFE)
He attacked the president and accused major corporations of evading about $116 billion from the treasury (PHOTO: EFE)

Likewise, denounce it It is estimated that the rich, who are 1% of taxpayers, evade about 116 billion dollars for the benefit of the treasury. And it intends to reduce this by allocating more resources to the Tax Collection Service (IRS) to audit bank accounts.

three days ago, Democrats on a House committee have proposed raising taxes on the rich And for companies that make more than $5 million a year.

Democrats They hope this tax increase will raise $2.9 trillion over 10 years He paid Biden’s $3.5 trillion social spending program that his party wants to pass in Congress before the end of the month.

This plan has not yet been written and Various congressional committees are now looking at exactly what to include in a.

(With information from EFE)

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