Biden unveils $6 trillion plan to be financed by taxing the rich | DW News


0
Biden unveils $6 trillion plan to be financed by taxing the rich | DW News



Joe Biden has pitched his proposals for what he calls a “once in a generation investment in America.” In his first speech to Congress as US president, he outlined sweeping plans to increase wages and invest in infrastructure to create more jobs. He also stressed the need for the US to reassert its place in the world – saying it must show its adversaries that “democracy still works.”
Biden of course came into the presidency with lofty ambitions. He pledged to bring the country out of the pandemic, to fight racial injustice, and to make a ‘once in a generation’ investment – creating what he calls the strongest, most resilient and innovative economy in the world.
100 days in to his presidency, he’s poised to rack up quite a bill: 6 trillion dollars. That’s the total cost of Biden’s spending proposals so far this year.
The first $1.9 trillion has already begun flowing into the economy, including $1,400 stimulus checks for many Americans.
He’s also proposed a $2.3 trillion infrastructure bill. It aims to update America’s ailing roads and bridges, while also improving internet and electric vehicle networks.
And then that $1.8 trillion bill aiming to improve child care and access to education.
Biden plans to pay for this by raising taxes. He wants to increase the corporate tax rate to 28% and the top tax rate for America’s wealthiest to 39.6%.
Biden spent decades in the US Congress as a senator. Now, he was back with an ambitious program that could see him becoming a transformational US president.
He began by drawing attention to the historic fact that for the first time ever, the two people behind him, House Speaker Nancy Pelosi and Vice-President Kamala Harris, were women. Then, a grim summary of his first hundred days, combined with a note of optimism.
Offering a wide-ranging vision of jobs, prosperity, and a new era of big government, with big spending plans, Biden said he would pay for it all with higher taxes on corporations and the super-rich.
On international policy, Biden focused on adversaries Russia and China, linking the United States’ ability to counter them to the success of his domestic policy agenda.
The circumstances of Biden’s speech were unlike any previous presidential address. Members of Congress wore masks and were seated apart because of pandemic restrictions.

Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1

For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Facebook: https://www.facebook.com/deutschewellenews/
►Twitter: https://twitter.com/dwnews
►Instagram: https://www.instagram.com/dwnews
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch
#JoeBiden #StimulusPackage #TransatlanticRelations

source


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
DW News

36 Comments

Your email address will not be published. Required fields are marked *

  1. Can't wait to see all the rich people in Hollywood, the "music" industry, professional sports, the media, YouTube stars, and software designers have to resort to living in one bedroom apartments, and driving 10 year old Honda Civics.

  2. It has worked! For big corporations! Government make concessions and the rich keep all that money. Meanwhile, workers have to rely on food stamps to survive.

  3. "Trickle down" economics does work…for the rich. The bottom 99% actually controls a bigger slice of the pie than the top 1%. So, the top 1% is unhappy about that, and they create an economic model which will ensure that the bottom 99%'s money will "trickle down" to them, all the while claiming the result will be the exact opposite. Ingenious! From the 1%'s perspective, the money is trickling down, while it's actually trickling up. Were you fooled by their double-speak?

  4. To all people from powerful nations: Crack down on tax-paradises, such as my home the Netherlands.
    You can tax companies all they want, but if my 'pro-market' government facilitates tax evasion, it isn't as effective.

  5. Rich people have been living it up too well at the expense of everyone else. Need a more fair system in place. Why must people suffer unnecessarily just because a few people want to live ultra luxurious lifestyles.

  6. Millions of ways to evade tax for the Rich, finally poor working class will pay for it. I worked for Goldman Sachs and several funds before, smart people outsmart dumb people.

  7. I’ve never understood why anyone wants to protect the rich. I am a career investment banker and none of my superiors have ever seriously considered moving because of a 2-5 percent increase in tax

  8. why is number keep getting bigger 2 trillion, 3 trillion, 4 trillion, now 6 trillion, the Biden tax increase is 1.5 trillion for 10 years, biden might want to raise all tax to cover it.

  9. Democracy in the US?!
    Well, that is a common misconception.
    Many US state doesn't even qualify for the Copenhagen criteria (which difference the democratic basic ) and not to mention the death penalty…
    It is only the world Greatest Hypocrisy!

  10. They been talking about taxing the rich every since Jimmy Carter. Think about when they do, who are they going to tax?
    I'll give you one guess ? prices has been going up every since.
    It's all smoke a mirrors. But this time they can't hide, all these so call green ideas and free college, 15 dollar minimum wage. It's all about taxing the people that want all this.
    Look in between the lines.

  11. "When the pandemic hit"… The majority of kitchen employees in our local restaurants were unable to file for unemployment because they had worked "under the table". (employment audits are absent in a "sanctuary city"). "For many families restaurants are the gateway to opportunity, the key part of the American story" said Biden, in the city Formally known as "Chocolate City." (Where McDonald's Welcome to Jim Crow and Carpet Bagging of the new Apartheid, yawl! ref: britanica "jim crow"

    In the Hospitality industry.(hiring based on "language" preference is not considered discrimination).

  12. If Biden could just drop the identity politics and keep Twitter idlers from dragging us down. There's no reason to self-flagellate over nothingburgers like systemic racism.

  13. The rich are the ones who can leave the high tax countries.

    To Luxemburg, Hong Kong, singapore, caribean countries, malasia,

    Or countries that offer easy Citizenship, like cyprus or portugal.

    Taking their income with them

  14. I do believe International corporation own US democracy and not vice-versa, for example did EU asks themselves how may taxes have paid Apple Inc last year ???

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format