IE 11 is not supported. For an optimal experience, visit our site at another browser. SKIP TO CONTENT * Telemundo * Series and Shows * News * Immigration * Entertainment * Sports * Horoscopes * Community * Live * Peacock Search Telemundo News Logo Presented by * DECISION 2024 *T Verify * PLAN YOUR VOTE * Immigration * Health * Crime and violence * Economy * INTERNATIONAL * Mexico * LATIN AMERICA Trump accuses Biden of wanting to raise taxes on the middle class by 14%. This is false * Share — * * * * Telemundo News Logo Search in Search Sections * DECISION 2024 * PLAN YOUR VOTE * IMMIGRATION * HEALTH * Crime and violence * ECONOMY * INTERNATIONAL * T VERIFY * MEXICO * LATIN AMERICA TV * today * NOON NEWS * NEWS 6:30PM * NEWS 11:35PM MORE FROM TELEMUNDO * Telemundo * Shows * ENTERTAINMENT * SPORTS * HOROSCOPES * The Power in You * LIVE Follow Telemundo News * * * Search in Search *Facebook * Twitter * Email * SMS * Print * WhatsApp * Reddit *Pocket *Flipboard * Pinterest * Linkedin US Elections 2020 # Trump accuses Biden of wanting to raise taxes on the middle class by 14%. This is false A propaganda from the president launches this false accusation but various experts and study centers show that it has no basis. Oct. 15, 2020, 1:45 AM GMT+5:30 / Updated Oct. 15, 2020, 5:56 AM GMT+5:30 / Source: Telemundo Louis Jacobson - Politifact A new ad from President Donald Trump's re-election campaign shows the Democratic presidential candidate, Joe Biden, intending to increase taxes on the middle class voter. \"What plan does Joe Biden have for you?\" the ad says, \"Biden's plan is to increase taxes on middle class families by 14%. 82% of the Americans would pay more, and Biden's plan provides amnesty and health care to illegal immigrants. Joe Biden is a career politician who spent decades increasing taxes\". \"So what plan does Biden have for you? Raise your taxes? That's everything\", he concludes Would Biden really increase taxes on low-income families by 14%? media? There is no evidence of that. And the 82% statistic is also incorrect. Biden's proposed changes would repeal provisions of the law Trump taxes for taxpayers earning more than $400,000 annual. Specifically, what Biden would do is: \- Increase the top corporate tax rate from 21% to 28% \- Raise the top individual federal income tax rate by 39.6% \- Put a 12.4% Social Security tax on income over $400,000 \- Tax capital gains at the same rate as income ordinary, for those who earn high amounts of money Everything is aimed at those who earn $400,000 or more a year. So, of where the alleged 14% tax increase for Americans comes from middle income? That's not clear. [Follow our coverage of the presidential elections] The MarketWatch article The Trump campaign did not respond to questions for this article. He advertisement refers to an article on the financial website MarketWatch of the March 4, when Biden was still in the heat of his primary game. But the MarketWatch article also does not support the claim of 14% of the Trump announcement. The only mention of 14% in the article refers to the plan offered by one of Biden's main opponents, Senator Elizabeth Warren. The article said Warren would "assess a 14.8% high social security tax" income". But that provision is not part of Biden's plan, and was aimed specifically to the top of the tax scale, not the middle-income Americans. ![\\"Joe](\\" ?ramen_itok=iqwQftIcTf\\")BidenAP Independent tax analyzes Analyzing the context prior to the MarketWatch article, it is not clear either evidence that Biden's plan will produce such a significant increase in taxes on middle-income taxpayers. Several independent groups of varying ideologies evaluated the impacts of the Biden's tax plan earlier this year. They projected that some of the burden of Biden's tax increases would fall on people who earn less than $400,000 in wages plus or low returns on their investments. This would be the result of the Biden's proposal to increase taxes on corporations. Unlike direct changes in individual tax rates and income thresholds, the impact of corporate tax on statements by ordinary Americans is indirect and difficult to measure. The Committee for a Responsible Federal Budget, a group that advocates for federal budget deficit, said that "overall, the fiscal plan of Biden would make the tax code more progressive, with the vast majority of increased tax burden and total tax increases direct falling in high-income households\". _[Biden said billionaires made $800 billion during the pandemic. Your words need context]_ The group summarized four other teams' assessments of how that Biden's tax plan would affect members of the quintiles of lowest, second lowest, middle, second highest and highest income. The four analyzes were conducted by the American Enterprise Institute, the Tax Foundation, the Urban Institute-Brookings Institution Tax Policy Center and the Wharton School of the University of Pennsylvania. According to the study, no quintile - not even the highest - would suffer anything close to a 14% tax increase in Biden's plan. Only 1% of The highest earners would see something approaching that degree of increase. According to the analysis of the Fiscal Policy Center, the group of minors benefits would see your income drop by $30. The next one would have a drop of $110; the middle would see a drop of $260; and the second highest, with income up to $170,000, would suffer a loss of $590 dollars. Additional tax cuts Biden has also proposed a series of tax cuts that were not included in the previous analyses. Here are some of the biggest cuts proposed by your campaign: \- A temporarily expanded child tax credit, worth 3,000 dollars for each child from 6 to 17 years old and 3,600 dollars for those under 6 years. Biden would make the credit fully refundable. \- A permanent $15,000 tax credit for first-time buyers housing, which could be advanced to the claimant rather than waiting until the next fiscal year. \- A refundable tax credit for health insurance premiums. \- Up to $8,000 in tax credits to help pay for child care the children. These proposed cuts are likely to eliminate tax increases. corporate tax, making the claim of Trump's announcement even more wrong. The initial analysis "does not support Trump's claim that the Biden will raise taxes by 14% for middle class families,\" said Eric Toder, a fellow at the Urban Institute-Brookings Institution Tax Policy. Center. \"It's not even close,\" he adds. Our decision Trump's ad said that "Biden's plan is a tax increase 14% to middle class families\". There is no evidence for this claim. The article cited in the ad does not say nothing about this, and the analyzes of independent expert groups found a much smaller indirect impact of increasing taxes on companies, which could well be reversed by tax cuts to large scale that Biden has proposed and that are currently being analyzed. Therefore, we rate the Trump campaign's statement as false. ![\\"False.](\\" T VerificaNoticias Telemundo The translation of this article was carried out by Daniela Nougues thanks to the FactChat agreement, coordinated by the International Fact-Checking Network (IFCN) with the support of WhatsApp. The objective of the project is to better information in Spanish during the US presidential elections in 2020. You can receive this and other political checks directly on WhatsApp by clicking here or by registering the number +1 727-477-2212 and writing \"Hello\" in the first message. We are waiting for you. #Chatbot * Ad options * Privacy Policy *Do Not Sell my Personal Information *California Notice * Terms of Service * About Telemundo * Accessibility * Corporate Information *Advertise with Us *SUBTITLE SERVICES * Shop Telemundo Return Policy * Shop Telemundo Customer Service * Shop Telemundo Frequently Asked Questions * Shop Telemundo Terms of Service * Turkish series and novels in Spanish * Colombian series and novels * Mexican series and novels * Turkish series The Family (Aile) * Thirst for Vengeance * Billboard Latin Music Awards 2024 * Telemundo App * Job Opportunities A Division of NBCUniversal | NBCUniversal Telemundo Enterprises © 2024 TELEMUNDO. ![](\\"
Biden's plan is to raise taxes on middleclass families by 14 82 of Americans would pay more and Biden's plan gives amnesty and health care to illegal immigrants Joe Biden is a career politician who spent decades raising taxes