2024 State of the Union address: on Tax Reform


Joe Biden: No person earning under $400K has paid new taxes

It's my goal to cut the federal deficit $3 trillion by making big corporations & the very wealthy finally beginning to pay their fair share. Look, I'm a capitalist. If you want to make a million of bucks, that's great; just pay your fair share in taxes. A fair tax code is how we invest in things that make this country great: health care, education, defense, & more. But the last administration enacted a $2 trillion tax cut, overwhelmingly benefitting the top 1%, the very wealthy, the biggest corporation, and exploded the federal deficit.

They added more to the national debt than any presidential term in American history. Check the numbers. Folks at home, does anybody really think the tax code is fair? Do you really think the wealthy & big corporations need another $2 trillion tax break? I sure don't.

I'm going to keep fighting like hell to make it fair. Under my plan nobody earning less than $400,000 will pay an additional penny in federal taxes. Nobody. Not one penny, and they haven't yet.

Source: 2024 State of the Union address Mar 7, 2024

  • The above quotations are from 2024 State of the Union address to Congress, plus the Republican and MAGA response.
  • Click here for definitions & background information on Tax Reform.
  • Click here for other issues (main summary page).
  • Click here for more quotes by Joe Biden on Tax Reform.
  • Click here for more quotes by Katie Britt on Tax Reform.
2024 Presidential contenders on Tax Reform:
  Candidates for President & Vice-President:
V.P.Kamala Harris (D-CA)
Robert F. Kennedy Jr.(I-CA)
Chase Oliver(L-GA)
Dr.Jill Stein(D-MA)
Former Pres.Donald Trump(R-FL)
Sen.J.D.Vance(R-OH)
Gov.Tim Walz(D-MN)
Dr.Cornel West(I-NJ)

2024 presidential primary contenders:
Pres.Joe_Biden(D-DE)
N.D.Gov.Doug Burgum(R)
N.J.Gov.Chris_Christie(R)
Fla.Gov.Ron_DeSantis(R)
S.C.Gov.Nikki_Haley(R)
Ark.Gov.Asa_Hutchinson(R)
Former V.P.Mike Pence(R-IN)
U.S.Rep.Dean_Phillips(D-MN)
Vivek_Ramaswamy(R-OH)
S.C.Sen.Tim_Scott(R)
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Page last updated: Nov 02, 2024