Insufferable ABC News chief Washington correspondent Jonathan Karl actually took the time to fact-check a claim by Democratic presidential nominee Joe Biden that “[n]obody making under $400,000 bucks would have their taxes raised” under his proposed tax plan.
Talk about a twilight-zone moment.
During the October 11, edition of ABC This Week with George Stephanopoulos, Karl grilled Biden campaign co-chair Rep. Cedric Richmond (D-LA) on Biden’s promises to only raise taxes on the rich. Karl questioned: “[Biden] has said that he will not raise taxes on anybody making less than $400,000 a year. But the analysis put forward by the Tax Policy Center [TPC] shows that, in fact, middle-income earners between — making between $50,000-$90,000 a year — will see an increase of $260. Is he wrong about this?” Karl continued: “It looks like there will be at least some increase for middle-income earners under his tax plan.”
Richmond strangely stated that the TPC had “a different interpretation.” He then doubled down on Biden’s claim that taxes on the middle class will not be raised: “The plan has been evaluated by several economic policy groups, and most of them say that no middle-class taxpayer will see a tax increase.” Richmond then tried to negate Karl’s fact-check by saying that “I think the fact-checkers will confirm that our plan in fact would not raise taxes on the middle class.”
Karl wasn’t having it, and continued to press Richmond on the fact that the Biden campaign had pledged to repeal President Donald Trump’s tax cuts on “day one.” Karl said: “Now, obviously the Trump tax cuts lowered — significantly lowered — the tax rate for lower income earners.” He continued: “In fact, the Tax Policy Center found that middle-income workers — some middle-income workers — saw $900 a year in tax savings. So, repealing the Trump tax cuts — full-on repeal — that does raise taxes on middle-income earners, doesn’t it?”
Richmond blurted out shockingly: “No, look, I agree.” But, he hedged himself quickly by saying that “I agree that, that policy center would take that opinion.” He then repeated himself by reiterating the Biden talking points: “But what we have seen, and our goal is to not raise taxes on anyone making less than $400,000.”
But the TPC is not the only think tank to come to similar conclusions about Biden’s proposals.
On a dynamic basis, The Tax Foundation’s General Equilibrium Model estimated that Biden’s tax plan “would reduce after-tax incomes by about 2.5 percent across all income groups over the long run.” Biden’s plan would also lead to a 1.47 percent contraction in GDP and a loss of at least 518,000 full-time jobs. [Emphasis added.]
Conservatives are under attack. Contact ABC News at 818-460-7477 and demand they continue to fact-check the Biden campaign’s claims on taxes.