raising taxes on americans more families
may be impacted as president biden plans
to tax
households not just individuals earning
more than four hundred thousand dollars
blake berman live at the white house
with the details blake hi there brian in
the white house
was asked the question today so what
might be the tax threshold
be on the individual level folks who
will
not get a tax increase under the biden
plan remember
the white house had been saying that if
you had if you make up to four hundred
thousand dollars you would not pay an
extra penny to uncle sam in federal
income taxes however they have since
changed that message saying that is for
joint filers for
married couples who make that much
combined so aboard air force one today
the white house the principal deputy
press secretary karine john pierre was
asked what that
individual threshold level might be this
was her response watch
anyone who's below that the 400 part b
four hundred thousand threshold will not
see a tax increase
but here's the thing where it's a little
early right we're still working out
through the process
um and you're right it's right now we
said it's per household and so we'll
we'll we will see like what what
develops but it's still early in the
process
still early in the process she says we
will see what develops speaking of air
force one
there was a bit of an unusual scene
today you'll you'll watch here the
president was going up air force one in
route to georgia
and stumbled there a few times was able
to collect himself get himself together
eventually walk up air force one very
steep steps windy day here in washington
dc or at least at the time
brian the white house says the president
is just fine
he made his way up to the top there and
eventually on to georgia
brian blake thank you so much well here
now on biden's tax hike hadley heath
manning
policy director at the independent
women's forum
hadley thank you so much for being here
today lots to talk about on taxes
let's start here we heard throughout the
campaign nobody making less than four
hundred thousand dollars
was gonna pay extra and now we're
finding out
that's being fudged just a little bit
that's exactly
by the way what republicans talked about
throughout the campaign and said you
just wait this is going to hit people
below that threshold
are we starting to see it now well you
know what this makes me think of it
makes me think if you like your tax rate
you can keep it
but maybe not you know sometimes
promises from politicians are just that
and they get broken but i would also
recommend that americans focus not just
on
how money is getting moved around here
how the government might seek to
increase revenues but also the way that
tax policy
can have a bigger broader impact on our
economy i mean biden's talking not just
about raising taxes on higher earners
but also increasing the corporate tax
rate that changes incentives in our
economy it has downstream effects on
jobs wages
economic growth and that certainly will
impact americans at every wage level
you know as an economist what drives me
crazy in this debate always
is the idea that there's some firewall
between taxing people
above 400 000 taxing corporations at a
higher rate and pretending that that's
not going to affect anyone else at the
economy
but certainly when you're raising taxes
on businesses
that affects their incentives to hire
when you're talking about hiring now
you're talking about
wages real pocketbook issues for middle
america
hadley isn't that exactly what's going
on right here
that's right and we have to see our
economy not just as a static thing but
as a dynamic thing so any policy whether
it's a use tax or a tax on income or the
way that we're doing
spending in social programs those things
all change the incentives and decision
making of people not just within firms
but also the ways that we work for every
additional dollar as workers as
employees
as individual business owners and as
consumers so certainly
as soon as you start to move things
around shift those levers you're going
to see people respond in their behaviors
and that has that has effects on the
economy as well we're getting talk
now that we may see something like a
mileage
tax so you know the gas tax but now
there may be a tax
on how many miles that you drive your
car which
raises some interesting questions like
well who do i have to report that to and
do i have to hand over that data to the
government what do you think about this
policy it's not a formal proposal yet
but it's being batted around and it
would hit everybody
yeah there's a couple of things on
either side here first of all any new
tax any tax hike you have to recognize
taking money out of the private sector
where those dollars might be used
more profitably or productively but if
you are seeking to raise federal
government revenues typically what the
federal government does is they tax our
incomes
and as president reagan once said you
know if you want less of something
you tax it so if you want people to have
less income you increase income taxes if
you want people to drive fewer miles
that gets you tax mileage
i will say the mileage tax proposal
that's being batted around now
is a little bit more equitable than a
gas tax because it would also hit people
who drive electric vehicles
it would also it would hit anybody based
on the number of miles that they drive
but you're right ryan
we're talking about maybe an invasion of
privacy if we have to put gps trackers
on everyone's car to see how many miles
they're driving every day
so that's a that's definitely an issue
that needs to be sorted out first
last thought here real quick but i look
at this recovery that we're seeing i'm
looking at the
come back and travel i'm looking at
businesses getting more freedom to open
up and then we're talking every day
about higher taxes we're talking every
day about
you know energy regulations isn't this
the kind of thing that could take what
could be a good recovery
and completely drain the energy from it
that's right and it is exciting to see
signs of
a revitalizing economy i will say the
only things that could really get in our
way you know in terms of fighting back
against the pandemic we're starting to
see a lot of positives there in terms of
vaccination
and immunization rates immunity rates
even among people who have recovered
from coven 19
we're coming up on spring spring weather
the only thing that's really going to
get in our way here is bad economic
policy and there's some bad ideas
getting thrown out there let's hope that
they don't become reality for americans
rule number one get out of your own way
when you've got a good thing
going hadley thank you so much for your
time really appreciate it today