Biden rips House Republicans for national sales tax bill

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During his MLK Day speech, President Biden addressed House Republicans for their plan to pass a bill imposing a national sales tax.

Video from President Biden:

Biden said:

They are preparing to vote on a third bill, they want a national sales tax.

Let me say this again, I know if I said you would say whatever Biden is making up here. They want to raise taxes on the middle class by taxing thousands of items, lower taxes on the wealthiest because they want to replace the money lost from taxes on the millionaires and billionaires with a sales tax on pretty much everything in the country. What the hell is that about, other than the obvious?

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They want working class people to pay another 10%, 20% taxes depending on where they live and how they spend the money and they’re going to do it – and they’re cutting taxes for the super rich. If we didn’t see it, you’d think we’re making this up. If I told you that in 2023 a party would run on a national sales tax, they would start their new term. Tax cuts for billionaires — by the way, the number of billionaires rose during the recession. Upwards. They didn’t go down. They went upstairs. Raising taxes on working families will make inflation worse. Let me be clear, if any of these bills reach my desk, I will veto it.

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The so-called fiscally conservative Republican Party is set to pass a bill next week in the House that may be the largest tax increase for the American people in US history.

Replacing the IRS with a national sales tax would be a gift to those who are already wealthy and a crippling economic punishment for everyone else. Sales taxes are highly regressive because while each person pays the same percentage of tax, the tax takes up a larger percentage of the income of those who earn the least.

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A national sales tax would shift the tax burden to the middle and lower wage earners in the economy.

It’s a terrible idea, and also a giant political club that the House Republicans voluntarily handed over President Biden and the Democrats to beat them with for the next two years.