(CNN) - Sen. Joe Biden said he would get rid of tax breaks for "people who don't need them" if elected president, saying the extra money is needed for all the things his fellow Democratic candidates have said they would do.
"My dad used to have an expression - don't tell me what you value, show me your budget," he said during Monday's CNN/YouTube debate in Charleston, South Carolina. Biden said Americans in the top 1 percent of incomes "got an $85 billion a year tax break. It is not needed."
"We need more revenue to be able to pay for the things the governor and everybody else talks about," the Delaware senator said. "And there's only one way to do it. You either raise taxes or take tax cuts away from people who don't need them. I'd take them away from people who don't need them."
– CNN Political Researcher Xuan Thai
Right on. How about tax reform across the board? We could all use less stress during tax season.
I tax reform and overhaul is much needed.
I think it was former Senator Gravel who said something about changing the tax based on consumption. So that the more Americans consume, the more tax they pay, the less they consume, the less tax they pay. It makes perfect sense. Instead of taxing someone based on how much they "earn" or make per year- it's how much they consume. Or at least have it be proportioned tax, which says in the pre-Amendment 16 Constitution.
It won't happen because ALL the rich politicians are the ones getting tax relief. How about getting rid of the income tax!
I'm all for tax breaks across the board, and making the tax program fair for everyone. What I have a hard time with is being in the position of paying alot more taxes, and not being able to take advantage of programs that my taxes support. My daughter is disabled. We dont qualify for the govt. funding to many of the programs available because our income is too high, yet we cannot fund the program ourselves because we cant afford it. Like many Americans, we find ourselves stuck in the middle, carrying the majority of the burden to pay for programs others benefit from. It just doesnt seem fair.
Senator Biden is still using the same old debunked adage that we should tax the top 1 percent – what he fails to mention is that is only a drop in the bucket and does not come clean on who will really be taxed, the middle and upper classes. Shameful and he knows it.
How about a $10,000 standard deduction? $20,000 for a married couple (traditional married couple.) Simplify. Help the little guy.
I heard a company VP recently exercised stock options and made a very hefty personal profit. Didn't create a single job. Didn't help the companies bottom line. Don't see what he did to deserve a tax cut.
I love the way they spin this issue by saying "tax breaks". What they REALLY mean to say is "we're not stealing enough of certain peoples' money!"
There's NO SUCH THING AS A TAX BREAK! The only thing that exists is OVER TAXATION. When someone is "given" a tax break it simply means that the government is stealing less money from an them.
YOUR MONEY DOES NOT BELONG TO THE GOVERNMENT! YOU ALL SHOULD DEMAND THAT THE INCOME TAX IS ABOLISHED! WE NEED A FAIR SALES TAX SYSTEM INSTEAD!
"Don't tell me what you value, show me your budget."
I hope he isn't serious because i take one look at the congressional budget and it makes me sick. The federal government is so bloated with fatty pork spending and back scratching favors that its hard to figure out if Congress values our money at all.
Did Biden or the other candidates disclose their earmarks?
Agreed. Let's hope someone sees the end from the beginning on this and all subjects relevant to America.
It seems to me that thats as the months and years go by, I receive less money back in tax returns, and with the way gas prices affect my everyday life, and cutting into my budget, even someone with a decent job is having trouble living now-a-days. Instead of trying to find ways around politicians and celebrities not having to pay taxes cause its not like they have to struggle in life to provide for themselves or their families. why not take all that bogus money the government allows to be given away in stupid game shows that ask rediculous questions a fifth grader can answer. use that money to get this country on its feet, to allow an actual TAX BREAK, for the families and individuals who work there ass off everyday to provide and live. its not like make 2.5 million dollars a year just to stand in center field for a ball i might see once in a season. its all the wealthy crooked politicians and celebrities we need to TAX.
No Mr. Biden, you don't need more money to waste. Leave the tax breaks in place and make them permanent. I am in the lower income brackets and I appreciate the extra money in my pocket. We DO NOT need to go back to the Democrats way of tax and spend. President Bush may have made mistakes in dealing with Iraq but over 7 milllion job have been created and the economy is in pretty good shape and a lot of those jobs have been created right here in Alabama. And by the way there has been WMD's in Iraq and they were probably moved to Syria. And, sir that's why I will do everything in my power to defeat people like you.
The people who make the top 1% of income hardly get "tax breaks"! They pay almost HALF of their annual income in taxes, and they pay the MAJORITY of tax revenue that runs the U.S.! How is it fair that one person is taxed 10% of his/her income while another pays 40%?
Why should one be penalized for succeeding in a capitalist society? The people who are paying for the majority of government services are using the least of those services. Why should they be penalized even further?