Tags: 2020 Elections | Joe Biden | Newt Gingrich | taxes | economy

Newt: Biden's Tax Hikes Will Cause 'Very Deep Recession'

joe biden is seen speaking at a podium with the us flag in the background
(Matt Slocum/AP)

By    |   Monday, 13 July 2020 09:29 AM

Joe Biden's pledge to restore American jobs shows he has "good pollsters" but his calls for tax and regulatory increases will kill jobs rather than create them and plunge the United States into a "very deep recession," former House Speaker Newt Gingrich insisted Monday. 

"He has always been so close to China that it's hard to imagine he would follow Trump's policy of negotiating as toughly as (President Donald) Trump has, for example, with Mexico and Canada," Gingrich said on Fox News' "Fox and Friends." "Biden can whistle the tune, but he can't dance the dance. When you look at his programs they would kill jobs in America."

Gingrich added that every economist he knows believes Biden's tax increases would "kill jobs and keep us mired down" in a "very deep recession" for at least 10 years. 

In addition, Gingrich said he thinks Trump should call on Biden to join forces with him in a call for accurate labeling for all products, and "see how long Biden actually tries to do anything real about buying American."

But instead, Biden says the "right things" when "they allow him out of the basement," but his policies are those of House Speaker Nancy Pelosi, Senate Minority Leader Chuck Schumer, Rep. Alexandria Ocasio-Cortez, and Sen. Bernie Sanders, said Gingrich.

Biden has said that if he's elected president, he'd move to repeal Trump's $2 trillion tax cut for people who make over $1 million a year "because it's demonstrated very little or no growth" and that he'll seek a 28% corporate tax rate. 

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Politics
Joe Biden's pledge to restore American jobs shows he has "good pollsters" but his calls for tax and regulatory increases will kill jobs rather than create them and plunge the United States into a "very deep recession," former House Speaker Newt Gingrich insisted Monday. 
taxes, economy
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2020-29-13
Monday, 13 July 2020 09:29 AM
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