Joe Biden uses Tax Day to draw contrasts with the GOP

President Biden used Monday’s tax filing deadline to promote his welfare agenda while launching attacks on Senate Republicans, saying his tax plan would watch over the little guy while Senate Republicans would promote a plan that would impose income taxes on those who currently pay none.

Mr. Biden is making hay with an “11-point” plan released by Sen. Rick Scott of Florida, who leads the Senate’s campaign arm. The plan stated that all people should pay income tax to ‘get their skin in the game’ and that all legislation should expire after five years, an idea that would ostensibly apply to health insurance and security social.

“The president is fighting for tax cuts for the middle class and to make sure the super-rich and big corporations pay their fair share, while congressional Republicans, led by Senator Scott, are proposing major tax increases for middle-class families,” the White House said in a fact sheet.

Mr. Biden wants to impose a minimum tax of 20% on households worth more than $100 million. The tax would apply to unrealized investment income that is not currently taxed. He also wants to repeal part of the 2017 GOP tax overhaul by restoring the top tax rate for those earning more than $400,000.

The White House said the wealthiest Americans “often pay no or very little tax on their income and too often escape paying income tax forever.”

Mr Biden is cracking down on corporations and the wealthy as he tries to pay for an expensive ‘Build Back Better’ plan. He faces opposition from centrist Democrats in Congress, forcing him to try to pass sections of the plan and ensure that popular aspects of the tax code, including a child tax credit and grants Oversized Obamacare, are extended.

“Families are getting these tax cuts right now because they are filing their taxes on this tax day. The President is proposing to extend this tax break because he believes middle-class families are already paying enough ‘taxes,’ the White House said.

In the meantime, Democrats see Mr. Scott’s plan as a pre-GOP giveaway ahead of a tough midterm season. They argue the plan shows the GOP is out of touch with American workers, reviving an old playbook after former President Donald Trump tried to undermine that image of Republicans with populist moves.

The Scott plan has driven a wedge between Republicans in recent weeks.

“We will not have on our agenda a bill that raises taxes for half the American people and cuts Social Security and Medicare within five years,” the minority leader said. in the Senate, Mitch McConnell, to reporters last month. “It will not be part of a Republican Senate majority platform.”

Yet others, including the Heritage Foundation, have backed plans to broaden the taxpayer base, and Mr Scott defended the plan in a Wall Street Journal, saying it had ‘stripped a chord’ in Washington because legislators don’t like to tell the truth about the financial sustainability of government programs.

“Part of the deception is achieved by disconnecting so many Americans from taxation,” he wrote. “It is a political gesture of genius. And that puts us out of business.

As politicians wrangled over taxes, the IRS said Monday it lacked the tools to administer the code as written.

He is pleading with Congress for $80 billion in new funding over 10 years, saying he is behind schedule this year and needs long-term support to make things easier for himself and American taxpayers.

“Today’s deadline is an inflection point in what has been the most challenging filing season in recent agency history,” said Natasha Sarin, tax policy and implementation adviser. work, in a press release. “It is the byproduct of chronic underfunding that has deprived the IRS of the tools it needs to serve the American people, coupled with a historic pandemic that has introduced new responsibilities alongside massive challenges. “

She said the funding would simplify tax filing, citing Estonians who often do their taxes in five minutes and Swedes who declare by answering “yes” to a text message.

The average American takes 13 hours to file, she said, and money from Congress would help move them away from a “tax system where torn paper returns are literally pieced together with tape.”

“The result will be a much smoother experience for the American taxpayer, where filing is easier and processing is automated,” she said. “It will be a fairer and fairer tax system, with the agency able to collect from the highest paid fraudsters who are currently skirting their responsibilities. And that will mean an IRS that can serve the American people as they want and deserve.

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