Joe Biden is so desperate to take the seat of President of the United States that he’s willing to lie about President Trump to make it happen. Unfortunately, there are these little things called facts standing in his way.
One of the best things that Trump did as president was to make a tax cut. It helped many people hold onto their wealth – and it wasn’t just for the upper crust of society.
Biden doesn’t like that Trump did something good, so he’s ready to lie about it in order to tarnish the fact. Biden’s lie? The tax cut added $2 billion to the federal debt.
Now, if that were true, it would be a serious problem.
Biden should know a thing or two about the national debt. The Obama administration he was a part of added $11 trillion to the public debt by the end of July 2013. If he could point some of the debt problems to Trump, that would make it look a lot better for him.
However, the tax cut that the Trump administration is responsible for did not contribute to the debt or deficit. Not a single penny was added to the debt due to the tax cut.
Actually, and this is the part Biden doesn’t want you to know, the tax revenue increased. In every year since the tax cut has occurred, the total taxes collected has increased. In 2017, $3.32 trillion was collected. It went up to $3.33 trillion in 2018 and a bit more to $3.46 trillion in 2019. That’s a win.
Biden, as usual, is a bit confused. He’s struggling with some basic math. He and his Democratic Congress argue that the debt has increased because of the tax cut. Biden believes that if 2018’s income was taxed higher, the revenue would have been approximately $150 billion higher – and over 10 years, that would have been $1.5 trillion.
Could have. Should have. Would have.
He’s operating under poor assumptions. Less income would have been generated without the tax cut. Further, the economy may have ended up in a recession had the tax cut not been made.
The tax cut provided more disposable income for consumers, allowing for more spending with the companies. It led to more economic activity, which is why the tax revenue was higher.
Biden should know this. Since the tax revenue didn’t drop, the tax cut didn’t contribute to the deficit. And Biden does know this – but he doesn’t want to give Trump credit for it.
Biden wants to act like he’s suddenly concerned about the deficit. He didn’t seem too concerned when he was helping Obama add to it. Obama will go down in history as being one of the top presidents to contribute to the debt.
Biden was the Vice President during that administration, though he only wants to remind people that he was Obama’s VP when it’s something good. He has to take responsibility for the bad, too.
President Trump has made a lot of policies that have stimulated the economy. It’s why the economy has been doing so well. Between the tax cut and removing counter-productive regulations, the economy has been thriving.
Biden hates that. So, rather than give kudos where they’re due, he’ll lie. He’ll try to convince people that the numbers are actually worse than they are. And that’s what people will get if they vote Biden: a liar.
The reality is that too many people already know the truth. A variety of diverse groups have given credit to Trump for improving the economy, reducing unemployment, and helping low-income communities gain a necessary footing.
Biden will lie not only about the tax cut contributing to the deficit but that the benefits only went to the wealthy. Wrong again. The tax cuts helped across the board.
Joe Biden better be careful. His lies are making him sound like a bitter loser, and the country hasn’t even voted yet.