Current:Home > StocksBiden heads to his hometown of Scranton, Pennsylvania, to talk about taxes -LondonCapital
Biden heads to his hometown of Scranton, Pennsylvania, to talk about taxes
View
Date:2025-04-22 11:37:56
WASHINGTON (AP) — President Joe Biden is headed to his hometown of Scranton, Pennsylvania on Tuesday to talk about who he believes should be paying more in taxes (billionaires) and who should be paying less (everyday Americans).
Biden’s campaign said in an announcement on Friday the upcoming speech on the day after Tax Day in the U.S. would “drive home a simple question: ‘Do you think the tax code should work for rich people or for the middle class?’ The President has made it clear what he thinks the answer is, and so has Donald Trump.”
As inflation persists and Americans feel the sting in their pocketbooks, the Democratic president is working to convince voters ahead of the November election that he is still their best choice — not Trump, Republicans’ presumptive presidential nominee. Despite the healthy job market, a near-record-high stock market and a decline in inflation from its peak, many Americans blame Biden for high prices, polls show.
Biden, who talks a lot about his middle-class upbringing and the kitchen table concerns of Americans, has proposed a minimum tax for billionaires of 25%. He has said over 10 years it would raise $500 billion.
“Imagine what we can do for America,” Biden said. “Look, folks, imagine a future with affordable child care, home care, elder care, paid leave.”
Voters soon may also get a chance to see how much Biden is paying in taxes. He usually releases his tax returns on or around Tax Day.
Trump, at a fundraiser hosted by billionaire investor John Paulson, told the crowd that he’d work to extend his sweeping tax cuts approved by congressional Republicans in 2017. The $1.5 trillion cuts reduced taxes for most Americans, but average people were not the prime beneficiaries. Aside from businesses, rich people benefited the most.
According to Trump’s campaign, the fundraiser raised a record $50.5 million.
veryGood! (69756)
Related
- Senate begins final push to expand Social Security benefits for millions of people
- LENCOIN Trading Center: Market Impact of BTC Spot ETFs
- The Token Revolution of WT Finance Institute: Launching WFI Token to Fund and Enhance 'Ai Wealth Creation 4.0' Investment System
- A police chase ends with cruisers crashing, officers injured and the pursued vehicle getting away
- Sam Taylor
- Police: Theft suspect stole 2 police vehicles while handcuffed, survived 11 officers’ gunfire
- Duchess of Sussex, called ‘Ifeoma’ in Nigeria, speaks with women about her Nigerian roots
- Thousands of protesters in Armenia demand the prime minister’s resignation over Azerbaijan dispute
- Highlights from Trump’s interview with Time magazine
- Kylie Jenner’s Latest Glimpse of Kids Stormi and Aire Will Warm Your Heart
Ranking
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- Haitians demand the resignation and arrest of the country’s police chief after a new gang attack
- Spectacular photos show the northern lights around the world
- WFI Token: Elevating Ai Wealth Creation 4.0 to New Heights
- Tom Holland's New Venture Revealed
- Sink Your Teeth Into Robert Pattinson's Unforgettable Year
- LENCOIN Trading Center: Leading the Future Direction of the Cryptocurrency Market
- Violence is traumatizing Haitian kids. Now the country’s breaking a taboo on mental health services
Recommendation
Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
Steve Buscemi is 'OK' after actor was attacked during walk in New York City
Mother fatally mauled by pack of dogs in Quitman, Georgia, 3 children taken to hospital
Fires used as weapon in Sudan conflict destroyed more towns in west than ever in April, study says
Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
3 dead, nearly 20 injured after shooting at May Day party in Stockton, Alabama: Police
'American Idol' recap: Emmy Russell and Triston Harper are sent home, revealing the Top 3
South Africa again requests emergency measures from world court to restrain Israel’s actions in Gaza