In President Biden's recent State of the Union address, held at Capitol Hill, the economy took center stage. His economic track record spurred lively debate, with familiar partisan disputes over various data points including jobs, trade, inflation, and the federal deficit. With a sizable audience and viewership, Biden seized the opportunity to pitch a potential second term to voters and outline his platform as the 2024 general election approaches.
On taxes, Biden advocated for raising the corporate minimum tax to 21% to ensure big corporations pay their fair share. He also proposed ending tax breaks for sectors like Big Pharma, Big Oil, private jets, and excessive executive compensation. Introducing a minimum tax of 25% for billionaires was another key point, aiming to generate $500 billion over the next decade while assuring that those earning less than $400K won't face additional federal taxes.
Regarding healthcare, Biden emphasized Medicare's negotiation for lower ...
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