new video loaded: Biden Defends Plans to Increase Taxes on the Wealthy

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Biden Defends Plans to Increase Taxes on the Wealthy

President Biden on Wednesday gave an impassioned defense of his plans to increase taxes on high earners, saying “this is about making the average multimillionaire pay just a fair share.”

The average C.E.O. of Fortune 500 companies makes like 36 times what the average employee of that corporation made — it’s over 450 times as much now. As my mother would say, “Who died and left them, boss?” — no, seriously, what rationale? Tell me what benefit flows from that. We’re not going to deprive these executives their second or third home, travel privately by jet. It’s not going to affect their standard living at all. Not a little tiny bit. But, I can affect the standard of living the people I grew up with if they have a job. I can make sure the standard of living of people I grew up with have child care, can afford it. So 20 million women can be back in the workforce. This is just not — makes no sense to me. But it’s kind of — I’m going to have to be able to explain this, and I’m going to keep banging at it, I think I’m not being solicitous. I’m not trying to ruin your reputation. I think most you understand what I said. Whether you agree with me or not. I think you understand what I’m saying. It’s fair to say this is about making the average multimillionaire pay just a fair share. It’s not going to affect their standard of living a little bit.

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