Thursday, September 3, 2020

Bauer from Forbes fact-checks Biden's ad

Continuing the last post, see her fact check here. She rightfully points out that the Chief Actuary letter was in response to the Senate's hypothetical scenario where payroll taxes were eliminated without replacement. Bauer notes that Twit said those funds would be replaced by the General Fund, which she notes can be legitimately criticized. That revenue would need to be made up by a tax hike five times as much as the tax cuts given to the rich by Twit and the Repugs. What Bauer doesn't say is who is going to pay those increased taxes, because the previous tax cuts made it quite clear that corporations and the wealthy would not be contributing. We the people would get stuck with the bill yet again after already putting all that tax money into the social security fund.

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