In an interview with Democratic presidential nominee Joe Biden and his running mate Kamala Harris, the former Vice President told “World News Tonight” anchor David Muir that everybody should pay “their fair share”.
Tax policy is taking an additional significance for the 2020 presidential election, with the economic crisis inextricably tied to the pandemic, and more than 30 million Americans currently on unemployment.
Biden told Muir, “I will raise taxes for anybody making over $400,000. No new taxes would be raised for anyone making under $400,000.”
Biden has been leading in the polls, polls also have shown that voters have greater confidence in President Donald Trump when it comes to the economy.
Muir asked, “Is it smart to tax business while you are trying to recover?”
Biden replied, “It is smart to tax businesses that are in fact making excessive amounts of money and paying no taxes.”
In reference to the 2008 recession, adding that his work, at the time, with then President Barack Obama, led to economic recovery, he said “It is how we did it last time. With the largest, the most consecutive number of months of growth in jobs of any time in history. We did it the right way.”
Biden, criticized the President by saying, “Look what he is doing. The money was supposed to go to help small business. You have one in six small businesses that have already closed. You are finding a situation that over 60% of the money for small business went to small businesses.”
When Muir pressed him on whether taxes would be raised on small businesses, Biden emphatically said, NO. Biden also said that, “there will be no raising taxes on the 90% of the businesses put there are mom and pop businesses , that employ less than 50 people”. He also added, “We have to provide them with the ability to reopen. We have to provide more help for them, not less help.”
Muir and Good Morning America, co-anchor Robin Roberts conducted joint interviews with Harris and Biden, their first since accepting the Democratic nomination, which was featured in a special edition of 20/20 called The Ticket: The First Interview , which aired Sunday on ABC.