Donald Trump is currently in a New York courtroom. Meanwhile, President Joe Biden went to his hometown of Scranton, Pennsylvania on Tuesday. He criticized the former president’s tax policies and tried to appeal to working-class voters.
Biden started a three-day trip in Pennsylvania, which is the most important state in the 2024 election. He criticized Trump’s tax cuts in 2017, saying they mainly benefited corporations and the richest people. Biden also emphasized the need for wealthy individuals to pay their fair share of taxes.
In a campaign speech, Biden talked about his humble upbringing in Scranton, emphasizing the importance of honesty and decency. He contrasted this with Trump’s wealthy background and inheritance.
“People like Donald Trump have learned very different lessons,” Biden told his supporters at the Scranton Cultural Center at the Masonic Temple. “He discovered that the easiest way to become wealthy is by inheriting it.” He discovered that paying taxes is something that people who have jobs do, not him. He discovered that finding humor in letting people go from their jobs was something he learned.
The Scranton stop was planned to support Biden’s reelection by highlighting the economic benefits, even though inflation is still high. It took place on April 16, the day after Tax Day, when people have to file their federal tax returns. Biden made his tax returns public on Monday, but Trump did not. Trump has a history of not sharing his tax returns, which he continued while he was in the White House.
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“When I think about the economy, I don’t view it from the perspective of Mar-a-Lago, but rather from the perspective of Scranton – and I’m not exaggerating,” Biden said. He also mentioned that Trump and his wealthy associates support the “unsuccessful policies of wealth trickling down” that have been in place for the past four decades.
“Scranton values or Mar-a-Lago values: These are the different ideas for our economy that bring up important questions about fairness in this campaign,” Biden said.
Trump visited while he was at his criminal trial in New York. The trial is about the money he allegedly paid to a porn star during the 2016 campaign.
In preparation for the November election, Biden wants to enhance the support of white working-class voters without college degrees, who have been leaning towards the Republican party during Trump’s presidency.
In his recent State of the Union address, Biden brought up a proposal to undo the corporate tax rate reduction that was implemented by Trump and congressional Republicans in 2017. The plan involves increasing the rate from 21% to 28%. The rate used to be 35% before the cuts made during the Trump era.
Biden wants to raise the minimum tax rate for the biggest billion-dollar companies from 15% to 21%, which he made a law in 2022. He also wants to introduce a new minimum tax rate of 25% for Americans who have over $100 million in wealth, specifically the top 0.01% richest Americans. He promised not to increase taxes for any American earning over $400,000 per year.
“According to Biden, it is not fair for billionaires to pay a lower tax rate than teachers, nurses, or sanitation workers.” Biden also made a comment about the declining stock of Truth Social, which is Trump’s social media company. “I must say, if the value of Trump’s company, Truth Social, keeps decreasing, he might benefit more from my tax plan than his own.”
In a statement, a spokesperson for the Trump campaign named Karoline Leavitt said that Trump is proud of passing the biggest tax cuts ever. The statement also accused Biden of supporting the biggest tax increase ever.
“Leavitt said that when President Trump returns to the White House, he will support tax cuts for all Americans and work to strengthen America’s energy industry. This will help reduce inflation, lower the cost of living, and decrease our debt,” Leavitt said.
Last month, the House Republican Study Committee suggested a plan to make the tax cuts for individuals and businesses, which were introduced during the Trump administration, permanent. These tax cuts are currently set to end in 2025. The proposal also includes additional new tax cuts.
Brian Deese, who used to be in charge of economic matters in the Biden White House, informed journalists that the Republican proposal would increase the deficit by $5 trillion. Additionally, it would provide billionaires with an average tax reduction of $3.5 million.
“Donald Trump will need to explain to the American people why the wealthiest individuals in the country receive a tax cut that is seven times larger than the income of an average middle-class family,” Deese stated during a call for the Biden campaign.
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