"This is the biggest assault on investors in 50 years," Stephen Moore said in a statement to the Washington Examiner.
Biden's proposal is a two-pronged criticism of Trump. It aims to undermine the president's economic message, already hurt by his response to the coronavirus. It's also an attempt to erode Trump's support among working-class voters who were pivotal to his White House win four years ago over then-Democratic rival Hillary Clinton.
Trump and his supporters, like Moore, are therefore trying to push back. Moore claims that "Biden’s Good-Bye America Tax Plan" would be a "disaster for stocks."
Biden tax plan would lower stock values by 20-25%
WashingtonExaminer.com
Joe Biden's tax plan would reduce stock values by 20% to 25%, according to a new analysis conducted by an economic adviser to President Trump.
"This is the biggest assault on investors in 50 years," Stephen Moore, an outside economic adviser to Trump and a member of his economic recovery task force, said in a statement to the Washington Examiner.
"The three stock killers are the corporate tax rise, the cap gains increase, and the death tax on stocks," said Moore, who also serves as an economist at the conservative advocacy organization FreedomWorks and is a contributor to the Washington Examiner.
Moore's analysis shows Biden’s "progressive tax rates" would result in the corporate tax rate increasing to 28%, from 21% currently, and the capital gains tax jumping to 39.6% from 23.8%. Moore said that taxes for small businesses and income and payroll taxes would also increase under Biden's tax plan.
With a new “Buy American” economic plan released earlier this week, Biden is trying to peel working-class voters away from Trump with a COVID-19 economic recovery pitch that echoes the incumbent's nationalist "America First" policy agenda.
Biden's proposal is a two-pronged criticism of Trump. It aims to undermine the president's economic message, already hurt by his response to the coronavirus. It's also an attempt to erode Trump's support among working-class voters who were pivotal to his White House win four years ago over then-Democratic rival Hillary Clinton.
Trump and his supporters, like Moore, are therefore trying to push back. Moore claims that "Biden’s Good-Bye America Tax Plan" would be a "disaster for stocks."
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What a JOKE!
THE UMBRELLA
This wonderful story moved me to share it with you. Such a sweet and touching tale......
THE UMBRELLA - A TOUCHING STORY
On a rainy afternoon, a group of protesters were gathered outside the grocery store handing out pamphlets on the “evils”of America. I politely declined to take one.
There was an elderly woman behind me and a young (20-ish) female protester offered her a pamphlet, which she politely declined.
The young protester gently put her hand on the old woman's shoulder and in a patronizing voice said, "Don't you care about the children of Iraq?"
The old woman looked up at her and said: "Honey, my father died in France during World War II, I lost my husband in Korea , and a son in Vietnam. All three died so a naive, ignorant, self-centered bimbo like you could have the right to stand here and badmouth our country, and if you touch me again, I'll shove this umbrella up your ass and open it."
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