Varney: Joe Biden is 'tax and spend on steroids'
Biden is looking to raise income, corporate, and capital gains taxes
FOX Business’ Stuart Varney, in his latest “My Take,” argues that former Vice President Joe Biden has always been a “tax and spend guy” but since launching his presidential campaign, it’s become more severe.
“Joe Biden has been a Washington politician for nearly a half-century,” he said. “He's always been a tax and spend kind of guy. Now, he's a tax and spend guy on steroids.”
Varney said Biden's economic plan includes raising the corporate tax to 28 percent, as well as increases income, payroll and capital gains taxes.
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“And when you're dead and gone, if you've got anything left, he'll raise your estate tax too,” Varney said. “That, we are told is fair.”
Democratic presidential candidate, former Vice President Joe Biden pauses while speaking during an event in Lancaster, Pa. June 25, 2020 (AP Photo/Matt Slocum, File)
Biden plans to spend big on green energy, Varney said, putting $2 trillion towards emission-free power by 2035. His plan includes four million buildings getting green upgrades in four years, switching all government vehicles to electric and implementing a new “Climate and Environmental Justice” office.
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“This really is tax and spend on steroids,” he said.
Varney pointed out that the election is 111 days away and that the decision is “clear” for the wealth of the economy.
“The economic choice is clear: tax and spend like you've never seen before, or tax cuts and growth like we saw in the first three years of the Trump presidency,” he said. “I'm for growth. Always have been. Always will be. Because growth brings prosperity and prosperity is the glue that binds this diverse society together."