The presidential candidates, Joe Biden and Donald Trump, have differing views on disclosing their own finances and implementing tax policies to boost the economy. Biden plans to release his income tax returns on the IRS filing deadline and advocate for wealthier individuals to pay more taxes to reduce the federal deficit and support programs for the less privileged. In contrast, Trump, who inherited wealth, has not disclosed his tax returns.
Tax Day reveals a major split in how Joe Biden and Donald Trump would govern: The presidential candidates have conflicting ideas about how much to reveal about their own finances and the best ways to boost the economy through tax policy . would govern: The presidential candidates have conflicting ideas about how much to reveal about their own finances and the best ways to boost the economy through tax policy .
The split goes beyond an ideological difference to a very real challenge for whoever triumphs in the November election. At the end of 2025,that Trump signed into law in 2017 will expire — setting up an avalanche of choices about how much people across the income spectrum should pay as the national debt is expected to climb to unprecedented levels.
“It added more to the national debt than any presidential term in history," Biden continued."And it’s due to expire next year. And guess what? I hope to be president because it expires — it’s going to stay expired.” Most economists say Trump’s tax cuts could not generate enough growth to pay down the national debt. An analysis released Friday by Oxford Economics found that a “full-blown Trump” policy with tax cuts, higher tariffs and blocking immigration would slow growth and increase inflation.
Tax Day Joe Biden Donald Trump Finances Tax Policy Income Tax Returns IRS Economy Federal Deficit Programs Wealthy Individuals
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