The inflation electorate will hold Biden and Democrats accountable at midterms for an economic vision that does not address the problems caused by inequality and racism in America.
“The country is so sick and tired of the same old failed trickle-down-tax-cuts policies. We need a new economic policy that focuses on opportunity and entrepreneurship.”
-Biden, October 8 campaign event in Washington.
“The next administration must address the challenges we face, such as the growing income and wealth inequality in America. It must also tackle climate change and the epidemic of gun violence in our communities.”
-Biden in October, 2019 Democratic presidential primary debate in New York.
On August 26, Biden released his long-awaited plan for addressing inequality.
“Too many Americans have lost health care options, homes, and their dignity,” Biden said. “And our country has seen too many of those who have come to work hard and build a life, lose it all.”
“Too many have been left behind,” he said. “For the first time in generations, too many Americans are paying higher taxes than they will make in the future.”
“And for more than 50 years, the wealthiest Americans have used their money and influence to buy political influence.”
-Biden, video address to the Working Families Party on December 14, 2019.
His plan calls for creating a $1 trillion infrastructure fund, which will be financed by $1 trillion in infrastructure investment, $500 billion in federal tax cuts, debt-reduction and debt-limit reduction.
“We’ve got to have a plan that’s long-term,” Biden said. “We’re going to invest in things for the long term.”
“And it’s going to have to come from more than raising taxes on middle class and billionaires,” he said. “That’s not a plan that we’ve seen up until now, and that’s not a plan that we’re going to see in the next year or two.”
-Biden, speech to the Center
