Trump vs. Biden on taxes

If you haven't made up your mind yet, here's where Donald Trump and Joe Biden stand on taxes.

Transcript

00:00What happened is, I came, I said I was going to cut your taxes.

00:04We gave you the biggest tax decrease in history.

00:07I'm not going to raise taxes on anyone who makes less than $400,000 a year.

00:13You won't pay a penny more, I guarantee you.

01:00We will cut taxes further, and we're cutting taxes for the middle class,

01:10we're cutting taxes for people that need jobs,

01:13and nobody's ever done it at a level like we've done it.

01:30Biden's going to raise your taxes.

01:32Once again, flat, unadulterated lie.

01:37No one who makes less than $400,000 a year will pay a penny more.

01:44If you make more than that, you're going to start paying at the rate you paid

01:47under the administration of George W. Bush.

02:00I called my accountants, underwrote it.

02:18I'm going to release them as soon as we can.

02:20I want to do it, and it'll show how successful, how great this company is.

02:26This is a president.

02:27I have released all of my tax returns.

02:2922 years.

02:30Go look at them.

02:3122 years of my tax return.

02:33You have not released a single solitary year of your tax return.

02:37What are you hiding?

02:38Why are you unwilling?

02:55It's a payroll tax.

03:02It's called a payroll tax cut.

03:04We're cutting the payroll tax, and it's a very large number,

03:08and that will go directly to the workers of the company.

03:20I provided up to $400 a month in continued relief.

03:24I froze student loan payments, stopped evictions, suspended payroll taxes.

03:38The president's talking about eliminating the withholding tax.

03:44Well, that's wonderful, except for one thing.

03:47The actuary at Social Security said if that plan goes through,

03:50Social Security will be bankrupt by 2023.

04:20We're looking at also considering a capital gains tax cut,

04:37which would create a lot more jobs,

04:40so we're looking very seriously at a capital gains tax cut

04:44and also at an income tax cut for middle-income families.

04:51We're looking at expanding the tax cuts that we've already done.

05:02It means making sure the wealthiest Americans don't get to pay at a lower tax rate

05:07because they're making money on their investments,

05:10but they pay at the same rate that they pay for their salary.

05:15These changes in the tax code will raise the money

05:18that will allow me to invest in working people and growing the middle class.