December 4, 2020

Newsweek: Will Republicans Show They Can Reach Across the Aisle on Tax Policy?

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Following is an excerpt of an opinion piece by Steve Wamhoff published in Newsweek:

During his campaign, President-elect Joe Biden talked about raising taxes on rich people more than any candidate in recent memory—and he won. Beating an incumbent president is rare, but Biden pulled it off and appears to be the first presidential incumbent-challenger to capture 51 percent or more of the vote since Franklin Roosevelt’s victory in 1932.

As difficult as his race was, his call for higher taxes on the rich and corporations probably helped him. For years, survey respondents have told Gallup that the wealthy and corporations should pay more taxes. Surveys conducted over the past three years show that the public opposes the GOP tax cuts of 2017, the only significant legislative achievement of the Trump administration. Read more