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Analyzing Joe Biden’s Tax Plan

Democratic presidential nominee, former US Vice President Joe Biden, and vice presidential running mate, US Senator Kamala Harris, sign required documents for receiving the Democratic nomination for President and Vice President, in Wilmington, Delaware, on August 14, 2020. (Photo by MANDEL NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)
MANDEL NGAN/AFP via Getty Images
Democratic presidential nominee, former US Vice President Joe Biden, and vice presidential running mate, US Senator Kamala Harris, sign required documents for receiving the Democratic nomination for President and Vice President, in Wilmington, Delaware, on August 14, 2020.

Tax plans are likely going to be a big point of tension between Trump and Biden, as we head into an election amid an economic downturn.

Tax plans are likely going to be a big point of tension between Trump and Biden, as we head into an election amid an economic downturn. 

Biden’s plan involves raising $4 trillion dollars in the next ten years, which would be contingent on Democratic control of the Senate. The plan involves levies on corporations, raising taxes on the wealthiest Americans and more.

We dive into the specific proposals laid out on Biden’s plan and their potential repercussions.

Guests:

Chris Edwards, economist and director of tax policy at the Cato Institute; he is also editor of DownsizingGovernment.org, a Cato project that focuses on federal spending

Mark Rickling, policy and legislative director at Americans for Tax Fairness, a left-leaning political advocacy group

Kevin Klowden, executive director of the Milken Institute’s Center for Regional Economics and California Center; he tweets

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