2020 Conventions: on Tax Reform


Joe Biden: FactCheck: tax hike on top 1%, not on all American families

Trump claimed that Democratic presidential candidate Joe Biden "has pledged a $4 trillion tax hike on almost all American families."

FactCheck: "The Biden tax plan is highly progressive, increasing taxes for the top 1 percent of earners by 13 to 18 percent of after-tax income, while indirectly increasing taxes for most other groups by 0.2 to 0.6 percent," wrote the Committee for a Responsible Federal Budget, an independent bipartisan nonprofit, in a recent report.

Source: CNN Fact-Check on 2020 Republican Convention speech Aug 28, 2020

Tim Scott: Critical to have a tax code should encourage growth

I started my own successful small business. That's why I know it is critical for us to have a tax code that encourages growth. We actually saw revenues to the Treasury increase after we lowered taxes in 2017. Rest assured, Democrats do not want you to know that!
Source: Speech at 2020 Republican National Convention Aug 25, 2020

Joe Biden: Raise taxes for anybody making over $400K, not mom & pop

Q: Is it smart to tax businesses during a recovery?

BIDEN: It's smart to tax businesses that are in fact are making excessive amounts of money and paying no taxes.

Q: Will you raise taxes on small businesses?

BIDEN: No. You have 90% of the businesses--mom and pop businesses--that employ less than 50 people. There will be no raising taxes on them. We have to provide them with the ability to reopen. We have to provide more help for them, not less help.

Q: Will you raise income taxes?

BIDEN: I will raise taxes for anybody making over $400,000. It's about time they start paying a fair share of the economic responsibility we have. The very wealthy should pay fair share, corporations should pay a fair share. The fact is, there are corporations making close to a trillion dollars that pay no tax at all. I'm not punishing anybody. This is about everybody paying their fair share.

Q: No new taxes $400,000 and down?

BIDEN: No new taxes, there would be no need.

Source: ABC This Week 2020 National Convention David Muir Q&A Aug 23, 2020

Reform Party: Lower tax rates, pass balanced budget

The American Reform Party will propose the downsizing of the IRS and a simplified reform of the existing Federal Tax Code. We will put forth a bill in which the existing complex tax code will be replaced with tax structures that will put more money back in the hands of business, States and the American family. Of course we will need our government to put into place a balanced budget proposal which will fit within the newly created tax revenue.
Source: American Reform Party Positions (2020 Conventions) Aug 22, 2020

Joe Biden: Tax code shouldn't reward wealth more than work

[Excerpts of DNC speech]: "More mom and pop businesses will close their doors and this time for good. Working families will struggle to get by, and yet the wealthiest 1% will get tens of billions of dollars in new tax breaks," Biden warned. "We don't need a tax code that rewards wealth more than it rewards work," he warned later.
Source: Vox.com analysis of 2020 Democratic National Convention Aug 21, 2020

Joe Biden: Past time for wealthy & corporations to pay their fair share

We can pay for these investments by ending loopholes and the president's $1.3 trillion tax giveaway to the wealthiest 1 percent and the biggest, most profitable corporations, some of which pay no tax at all. Because we don't need a tax code that rewards wealth more than it rewards work. I'm not looking to punish anyone. Far from it. But it's long past time the wealthiest people and the biggest corporations in this country paid their fair share.
Source: Acceptance speech at 2020 Democratic National Convention Aug 20, 2020

  • The above quotations are from 2020 Democratic and Republican Conventions.
  • Click here for definitions & background information on Tax Reform.
  • Click here for other issues (main summary page).
  • Click here for more quotes by Donald Trump on Tax Reform.
  • Click here for more quotes by Joe Biden on Tax Reform.
2020 Presidential contenders on Tax Reform:
  Democrats running for President:
Sen.Michael Bennet (D-CO)
V.P.Joe Biden (D-DE)
Mayor Mike Bloomberg (I-NYC)
Gov.Steve Bullock (D-MT)
Mayor Pete Buttigieg (D-IN)
Sen.Cory Booker (D-NJ)
Secy.Julian Castro (D-TX)
Gov.Lincoln Chafee (L-RI)
Rep.John Delaney (D-MD)
Rep.Tulsi Gabbard (D-HI)
Sen.Amy Klobuchar (D-MN)
Gov.Deval Patrick (D-MA)
Sen.Bernie Sanders (I-VT)
CEO Tom Steyer (D-CA)
Sen.Elizabeth Warren (D-MA)
Marianne Williamson (D-CA)
CEO Andrew Yang (D-NY)

2020 Third Party Candidates:
Rep.Justin Amash (L-MI)
CEO Don Blankenship (C-WV)
Gov.Lincoln Chafee (L-RI)
Howie Hawkins (G-NY)
Gov.Gary Johnson(L-NM)
Howard Schultz(I-WA)
Gov.Jesse Ventura (I-MN) 		Republicans running for President:
Sen.Ted Cruz(R-TX)
Gov.Larry Hogan (R-MD)
Gov.John Kasich(R-OH)
V.P.Mike Pence(R-IN)
Gov.Mark Sanford (R-SC)
Pres.Donald Trump(R-NY)
Rep.Joe Walsh (R-IL)
Gov.Bill Weld(R-MA & L-NY)

2020 Withdrawn Democratic Candidates:
Sen.Stacey Abrams (D-GA)
Mayor Bill de Blasio (D-NYC)
Sen.Kirsten Gillibrand (D-NY)
Sen.Mike Gravel (D-AK)
Sen.Kamala Harris (D-CA)
Gov.John Hickenlooper (D-CO)
Gov.Jay Inslee (D-WA)
Mayor Wayne Messam (D-FL)
Rep.Seth Moulton (D-MA)
Rep.Beto O`Rourke (D-TX)
Rep.Tim Ryan (D-CA)
Adm.Joe Sestak (D-PA)
Rep.Eric Swalwell (D-CA)
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Page last updated: Sep 07, 2020