WASHINGTON (AP) — President Donald Trump greeted the Democratic presidential ticket of Joe Biden and Kamala Harris this past week with a litany of distortion and falsehoods, raging against cases of voting fraud where they didn’t exist and declining to quash conspiracy theories about Harris’ eligibility for office.
Trump also misrepresented Biden’s position on taxes, again minimized the coronavirus threat and exaggerated his own record on the economy.
A look at some of the past week’s rhetoric and the facts:
TRUMP: “If Biden would win … he’s going to double and triple everybody’s taxes.” — news conference Wednesday.
THE FACTS: Trump is exaggerating. Wildly so.
Biden would raise taxes, primarily on the wealthy. But a July estimate by the Committee for a Responsible Federal Budget finds that the increase is a small fraction of what Trump claimed. The former vice president’s plan would raise “taxes for the top 1 percent of earners by 13 to 18% of after-tax income, while indirectly increasing taxes for most other groups by 0.2 to 0.6%,” the nonpartisan group said.
To put that in perspective, tax collections would increase by $3.4 trillion to $3.7 trillion over the next decade. That is a lot of money. But it’s not a doubling or tripling. The government is on pace to collect $47 trillion over the next decade, so the Biden plan would be roughly be a 7.8% increase in revenues.
Source: AP News