Democratic presidential nominee Joe Biden said on Sunday he believes everyone must pay "their fair share" of taxes, which is why if elected, he will "raise taxes for anybody making over $400,000."
During an interview with ABC News, Biden said there will be "no new taxes" for those earning under $400,000 or "90 percent of the businesses out there that are mom and pop businesses, that employ less than 50 people." Amid the coronavirus pandemic, the government must assist those small businesses with "the ability to reopen," he continued. "We have to provide more help for them, not less help."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Celebrating 250 years of Jane AustenThe Week Recommends From exhibitions to Regency balls, these are the best ways to commemorate the author
-
The pressure of South Korea's celebrity cultureIn The Spotlight South Korean actress Kim Sae-ron was laid to rest on Wednesday after an apparent suicide
-
Should lying in politics be a criminal offence?Today's Big Question Welsh government considers new crime of deliberate deception by an elected official
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
-
Biden expected to block Japanese bid for US SteelSpeed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
-
Bitcoin surges above $100k in post-election rallySpeed Read Investors are betting that the incoming Trump administration will embrace crypto
-
Enron mystery: 'sick joke' or serious revival?Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
