CNBC - Biden tells donors he will end most of Trump's tax cuts 'and a lot of you may not like that'
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  CNBC - Biden tells donors he will end most of Trump's tax cuts 'and a lot of you may not like that'
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Author Topic: CNBC - Biden tells donors he will end most of Trump's tax cuts 'and a lot of you may not like that'  (Read 2380 times)
TiltsAreUnderrated
Junior Chimp
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« Reply #50 on: July 01, 2020, 01:33:02 PM »

This is exactly what he was saying in those "infamous" comments when he said "nothing will fundamentally change." The full context was "I'm gonna tax the hell out of you, but nothing will fundamentally change in your lifestyle because you're so rich you'll hardly even notice it, so get over it."

Doesn't stop Bernie or Busters from taking it out of context and pretending he was actually saying that he would be a tool for the wealthy elites.

Not quite:

"By the way, you know, remember I got in trouble with some of the people on my team, on the Democratic side, because I said, 'You know what I've found is rich people are just as patriotic as poor people.' Not a joke. I mean, we may not want to demonise anybody who has made money. The truth of the matter is, you all, you all know, you all know in your gut what has to be done. We can disagree in the margins but the truth of the matter is it's all within our wheelhouse and nobody has to be punished. No one's standard of living would change, nothing will fundamentally change. Because when we have income inequality as large as we have in the United States today, it brews and ferments political discord and basic revolution. Not a joke. Not a joke. I'm not [inaudible] revolution. But not a joke. It allows demagogues to step in and say 'The reason where we are is because of the other, the other.' You're not the other. I need you very badly. I hope if I win this nomination, I won't let you down. I promise you. I have a bad reputation, I always say what I mean. The problem is I sometimes say all that I mean."

I happen to think Biden's improved since then and don't entirely disagree with the above, but at this point, he should not be telling these donors he needs them very badly. They aren't going to stop lobbying against his reforms just because he appreciates or depends on them; ideally, they should be afraid that if they obstructed his economic agenda, he'd facilitate their opponents rather than merely acknowledging their existence.

As for the demagoguery of left-populism, I also agree it's not ideal, but it is now a useful tool in a very flawed democracy. The kind of thinking Biden espoused in the above runs contrary to Obama's very effective painting of Romney as an elitist.

REACTIONARY BIDEN STOPPING THE REVOLUTION

I'm not arguing for revolution. I'm saying that the sort of stance he's taking above will leave him in a weaker than ideal position to enact reforms that will inevitably be resisted. Reformists should seek to give maximal interest to their opponents in getting the reforms they want passed, and the potential for hostility can be one of these.
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coloradocowboi
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« Reply #51 on: July 01, 2020, 02:53:26 PM »

I see that the conservatives have taken this opportunity to accuse Biden of being a leftist, while the moderates have decided that they will take this opportunity to act like Biden is a progressive because he's going to make rich people pay slightly more in taxes.

This is all for show. It's performative. None of his donors would "not like that," because it is exactly what they are paying for. This isn't even news.
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Kingpoleon
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« Reply #52 on: July 01, 2020, 06:50:42 PM »

I am cautiously pessimistic about this. I understand there's a reason to keep some of the tax cuts (e.g. for lower earners and for stimulus reasons assuming a recession is ongoing or a constant risk), but rolling back only half of the corporate tax cut (35% -> 21% -> 28%) suggests the deepeneing of wealth inequality is going to be allowed to continue in the main.

There’s something deeply ironic about a British leftist lecturing America for a proposed “low” 28% corporate tax rate.
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TiltsAreUnderrated
Junior Chimp
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« Reply #53 on: July 01, 2020, 06:55:52 PM »

I am cautiously pessimistic about this. I understand there's a reason to keep some of the tax cuts (e.g. for lower earners and for stimulus reasons assuming a recession is ongoing or a constant risk), but rolling back only half of the corporate tax cut (35% -> 21% -> 28%) suggests the deepeneing of wealth inequality is going to be allowed to continue in the main.

There’s something deeply ironic about a British leftist lecturing America for a proposed “low” 28% corporate tax rate.

Of course ours is too low, but the USA can afford to have a much higher one than the rest of the world without lowering its tax take because it takes revenue even if a company is registered abroad. This isn't true for the UK and the lower the US rate goes, the lower the rest of the world has to without significant reforms like destination-based taxation.
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It’s so Joever
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« Reply #54 on: July 01, 2020, 08:08:17 PM »

What a Mondale-esque moment. Good thing for polarization and Trump’s loudmouth.
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Pericles
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« Reply #55 on: July 01, 2020, 08:19:57 PM »

What a Mondale-esque moment. Good thing for polarization and Trump’s loudmouth.

If the majority of the American electorate were millionaires, maybe. But the actual electorate never supported Trump's giveaway to the rich.
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Xing
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« Reply #56 on: July 01, 2020, 10:52:34 PM »

I’d go even further, but I’m glad he’s not showing typical Democratic cowardice when it comes to taxes and the rich.
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T'Chenka
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« Reply #57 on: July 01, 2020, 11:58:24 PM »

I’d go even further, but I’m glad he’s not showing typical Democratic cowardice when it comes to taxes and the rich.
Let's see him put his money where his mouth is before we start praising him too hard.
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