Yesterday One America News posted an article detailing some recent statements by presidential candidate Joe Biden.
The article reports:
Joe Biden is campaigning to roll back President Trump’s tax cuts. The former vice president made his case Wednesday in his hometown of Scranton, Pennsylvania.
Biden touted his middle class background and announced his intent to hike the corporate tax rate from 21 percent to 28 percent. He claimed the repeal would help the middle class by hitting the wealthy and corporations.
“The wealthy didn’t need [tax cuts] in the first place,” said Biden. “Corporations have spent them on stock buybacks.”
Then Joe Biden claimed that former President Obama is responsible for the current economic success in America:
“Donald Trump inherited a strong economy from Barack and me,” stated the former vice president. “Things were beginning to really move — just like everything else he’s inherited, he’s in the midst of squandering it.”
The article then notes the actual economic facts:
Recent data from the Census Bureau revealed the middle class has experienced an economic boom since President Trump took office. The average family income rose over $5,000 since 2017. Under the Obama administration, household incomes only grew by about $1,000 by the end of eight years.
The main things that increased in the Obama economy were unemployment and the number of people on food stamps. Admittedly, President Obama became President at a difficult economic time, but his policies resulted in the slowest and leanest economic recovery in American history. President Trump’s economic policies have resulted in economic growth in all segments of the economy. The middle class and all minorities are enjoying higher wages and more jobs. A return to the economic policies of President Obama would be a step backward–not a step forward.