(AmericanProsperity.com) – President Joe Biden has laid out his economic plans regarding taxes and costs of consumer goods.
During Biden’s State of the Union Address, he discussed future plans for America’s economy. He spoke about how he would reshape the tax system to make it fair for Americans and lower costs for consumers.
“I inherited an economy that was on the brink. Now our economy is literally the envy of the world,” Biden said.
“The way to make the tax code fair is to make big corporations and the very wealthy finally pay their share,” said Biden. Biden has consistently discussed how corporations need to pay more in taxes and how unfair the current tax brackets are for the American public.
Joe Biden has spoken about a “billionaire tax”, which would mean that household incomes over $100 million would need to pay 25% minimum taxes. Plans to expand some of his already beneficial changes and programs are also in the works.
The president stated that he’d be pushing for Medicare to negotiate even lower drug prices so prescription drugs could be more accessible to Americans. Biden’s plan for the economy is extensive and we’ve seen successful plans put in place already, such as eliminating “junk fees.”
He was even seen on Super Bowl Sunday doing his own commercial to call out companies for giving less product in their packaging but keeping the same price or inflating it. Something that he referred to as “shrinkflation.”
Although Biden has been able to make changes for the economy that have been deemed successful, many of his endeavors haven’t been recognized by many Americans, according to statistics.
“There’s more to do to make sure you’re feeling the benefits of all we’re doing,” Biden said.
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