Reported today on The New York Times For the full article visit:
Biden Proposes Smaller Tax Increases Than Rivals DoHis set of tax plans would ask the highest earners to pay more to fund a smaller-scale expansion of government than those proposed by other leading Democrats.WASHINGTON - The Democratic presidential candidate Joseph R. Biden Jr. would raise taxes on high earners and corporations by at least $3.4 trillion over the course of a decade if elected, his campaign said Wednesday, releasing a set of plans that are far less aggressive than his more liberal rivals'. Mr. Biden would raise a much smaller amount of tax revenue from the wealthiest Americans and businesses than his rivals Senators Bernie Sanders of Vermont and Elizabeth Warren of Massachusetts, who have each proposed wealth taxes on the assets of billionaires and some multimillionaires, along with corporate tax increases. The gulf in tax proposals mirrors the candidates' divide on plans for new government spending. Ms. Warren and Mr. Sanders want to spend trillions of dollars more per year on new federal programs, including "Medicare for all" and student debt relief, than Mr. Biden has suggested. Ms. Warren has proposed about $30 trillion in new tax revenues to pay for her spending plans. Mr. Sanders has said his health care plan alone will cost $30 trillion. Mayor Pete Buttigieg of the South Bend, Ind., who has emerged as one of Mr. Biden's main rivals in wooing moderate Democrats, has proposed nearly $7 trillion in new taxes, according to his campaign.It remains possible that Mr. Biden could propose additional spending plans and other new taxes to help pay for them. But his tax increases are already more than double the amount that the last Democratic presidential nominee, Hillary Clinton, proposed in the 2016 campaign. While less aggressive than his rivals', Mr. Bi
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