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New Website Details Biden’s Tax-Fairness Mandate

By Anna Peel. Originally published at ValueWalk.

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Joe Biden Got the Most Votes In History With Tax Fairness as a Centerpiece of His Campaign


Q3 2020 hedge fund letters, conferences and more

Biden’s Tax-Fairness Mandate

(WASHINGTON, D.C.) President-elect Joe Biden received the most votes of any Presidential candidate in history running on a promise to make the rich and corporations pay their fair share of taxes, starting with repealing their Trump-GOP tax cuts. Today, Americans for Tax Fairness (ATF) unveiled a new website that highlights Biden’s tax-fairness mandate, including analysis of tax issues in the 2020 campaign. Additionally, ATF has issued a tax-focused 100 Days Agenda for the Biden administration.

Biden’s was the most progressive tax reform plan and investment agenda put forward in modern times by a major-party presidential nominee. His stump speeches and tens of millions of dollars of TV ads for and against Biden’s plan made tax fairness a centerpiece of the presidential contest. And tax fairness won.

“Vice President Biden was elected with a mandate to enact a fair-share tax system that will create an economy that works for all Americans, not just the wealthy few,” said Frank Clemente, Executive Director of Americans for Tax Fairness. “The COVID-19 pandemic has exposed the weakness in our economy: inequality rising exponentially; billionaire wealth rising by $1 trillion, or 36%, since March; millions of unemployed Americans; more Americans living paycheck to paycheck than during the Great Recession; and state and local services being slashed due to revenue shortfalls. Addressing the troubles in our economy will require creating a tax system that requires the wealthy and corporations to pay their fair share of taxes and putting working families first.”

Tax-Focused Policy Recommendations

Americans for Tax Fairness has issued a set of tax-focused policy recommendations for the President-elect in a 100 Days Agenda that include:

  • Rolling back those Trump-GOP tax cuts that most directly benefit the wealthy and corporations.
  • Ending the special tax discount on income from stock and other assets that allows a billionaire to pay a lower tax rate than a firefighter or nurse.
  • Closing the trust-fund loophole that lets wealthy families avoid all taxes on the growth in the value of their fortunes when they pass between generations.
  • Revoking all the special tax breaks for real estate investors like Donald Trump that let them delay, reduce and eliminate their tax obligations.
  • Restoring a higher, fairer tax rate on big profitable corporations and ensuring they stop dodging their taxes through accounting tricks by levying a 15% minimum tax on the profits reported to investors and ending tax breaks for outsourcing jobs and shifting profits offshore.
  • Rebuilding the IRS by restoring its funding and hiring to historic levels and refocusing audit resources on the wealthy and corporations.

You can view Biden’s Tax Fairness Mandate website here.

The post New Website Details Biden’s Tax-Fairness Mandate appeared first on ValueWalk.

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