The $6T Gap Between Trump’s and Biden’s Tax Plans | WSJ

President Biden and Donald Trump have very different tax plans they’d like to implement if they win the 2024 presidential election.

WSJ’s Richard Rubin explains what makes up the $6 trillion rift between them.

Chapters:
0:00 Tax policy
0:40 2017 tax cuts
1:41 Baseline
2:16 What Trump wants
3:17 What Biden wants
5:05 What’s next?

News Explainers
Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day's biggest stories into bite-size pieces to help you make sense of the news.

#Biden #Trump #WSJ

[gund]

Tax cuts for corporations are permanent, tax cuts to individual will expire in 2026 ?
Why ? Because corporations spent more money lobbying?

[RusnakAutoDesign]

Last time Trump did a tax cut my company gave me a 2k+ dollar bonus directly because of it. Would be nice if more corps weren't evil.

[skywolf]

Yes its simple. Cut spending, cut taxes. The money is going to waste. Clearly.

[geoffreyevans]

Wow, a discussion on POLICY, how very rare.

[Theone]

lol they expected corporations to raise wages? Well did they raise wages?

[Venaloid]

We do need minimum tax rates for the super wealthy and corporations. If you're that profitable, you can and should afford to pay at least as much tax as regular people.

[TeBeezY]

Decrease taxes, decrease government spending. Problem solved. Aka stop funding wars

[youngalexander]

It doesn't matter how much they tax, because they will spend the same amount regardless.

[connacht]

Six trillion OVER how many years? That's something to put in a title, not a graph stuck in the middle of the video. One thing is for sure... if you give the government more money, they will find a way to waste more money.

[roberthepburn-grfq]

In the history of corporate tax cuts have never resulted in more jobs or higher wages (except for the CEOs who have received enormous pay raises)
The trickle down theory never trickled down to the working class and never created jobs

[shmadden]

Who in their right mind is a proponent of MORE taxes?? Especially when the government is adding $1 TRILLION of debt every 100 days... The problem is not tax collections, the undeniable problem is the ridiculous and abhorrent government spending of taxpayers' dollars.

[gideonnelson]

This felt like a very bipartisan, informational video. Fantastic. Clearly laying out both sides without fluffing up one or slandering the other. Very refreshing. I'll subscribe as long as that is the norm.

[cljar]

1:20 "lower taxes on their profits. . .to give people more money in their pockets." Hold on, go back to the part you skipped. How does letting corporations keep profits guarantee money in our pockets? We've seen this scam before. Sorry

[joebullwinkle]

Since the 1950's wealthy individuals & corporations have very successfully reduced their tax exposure so dramatically that the US government can't run without a substantial deficit and wealth inequality has exploded to proportions not seen since the 1920's. In my view it's well time to reverse this!

[MrMex]

Big corporations that get hit with more taxes don’t pay them. They find new cuts or offload that cost into their customers. Thus the reason we are seeing this much inflation. Big corporations are not going to let the government affect their pockets.

[kylerowley]

The government doesn't need more tax money, it needs to start spending the stupid amount that it already gets in a practical manner.

[Trentacus]

No, corporate profits only ONLY go to stock buybacks and executive bonuses.

[SVTCobra]

1:40 "if congress does nothing" ....
.... funny at so many levels.

[strongocho]

the government does not "lose money" with lower taxes. and lower taxes do not increase the deficit. Reckless spending and unnecessary foreign aid is what the problem is.

[chasewillis]

How did we go from a county that 250 years ago revolted over a 3 cent tax on a breakfast drink to talking about over half of people's income being stolen for This is insane!