Biden and Trump Differ on Handling $3.4 Trillion in Expiring Tax Cuts
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#3d0b08bc ver:0.78

President Biden plans to let income tax cuts for the wealthy expire while protecting those earning less than $400k. He also proposes raising the corporate tax rate. In contrast, former President Trump pledges substantial tax cuts for all income levels and businesses. The extension of these tax cuts will impact the federal budget and taxpayers. The conversation comes amid concerns about the US deficit. Trump has proposed replacing income taxes with tariffs, but experts raise concerns about feasibility and economic consequences. If income taxes were replaced with tariffs, the average American household could face a $5k tax burden increase. Critics argue relying solely on tariffs oversimplifies global trade and taxation systems. #TaxCuts #Biden #Trump #Tariffs...

#newstr #TaxCuts #Biden #Trump #IncomeTax #Tariffs #UsDeficit #Eu #China 

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