Joseph R. Biden Jr. Quotes
It's a simple proposition to us: Everyone is entitled to adequate medical health care. If you call that a 'redistribution of income' -- well, so be it. I don't call it that. I call it just being fair -- giving the middle class taxpayers an even break that the wealthy have been getting.
Biden, Joseph R. "Campaign Remarks in Scranton, Pennsylvania." The American Presidency Project, 12 Oct. 2008.
An income tax had been instituted during the Civil War but had lapsed. Existing taxes were all excise or head taxes—very regressive. Later there was a political movement to bring back the income tax with the intention of taxing all income equally. There was a titanic struggle which culminated in a Constitutional Amendment allowing the income tax. None of the original politicians, for or against, the income tax could never imagine an income tax that would charge lower rates for investment income. That was the entire purpose of the income tax at the beginning—to tax investment (unearned) income. The “capital gains tax” was the creative way of the rich getting back some of what they thought the lost when the income tax was instituted.
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At the time of this quotation, the nation had gone through more than 3 decades of enormous increase in prosperity for the wealthy, and modest gains for the highly skilled, technically trained workers. However, correcting for inflation, average salaries did not increase at all. The middle class was particularly hard hit. Only 20 percent of the population benefitted from the growth at all; however, the 1 percent had rarely prospered more. Kenworthy’s principle did not apply for this period of American history.
Joseph Robinette Biden Jr. is an American politician who is the 46th president of the United States. A member of the Democratic Party, he served as the 47th vice president from 2009 to 2017 under Barack Obama and represented Delaware in the United States Senate from 1973 to 2009.; Joseph Robinette "Joe" Biden Jr. was the 47th Vice President of the United States, having been jointly elected twice with President Barack Obama. A member of the Democratic Party, Biden represented Delaware as a United States Senator from 1973 until becoming Vice President in 2009.