• Wed. Nov 25th, 2020

Biden reiterates a plan to raise taxes on ‘anybody making over $400,000.’

Joseph R. Biden Jr., the Democratic presidential nominee and former vice president, seemed to suggest that most taxpayers would avoid increases if he is elected president in November, according to an interview with ABC News that aired on Sunday night.

While responding to questions about his tax plan, which has been a main line of attack for President Trump and Republicans, Mr. Biden said that in a Biden administration, tax hikes would be targeted at the wealthiest individuals and companies.

“I will raise taxes for anybody making over $400,000,” Mr. Biden said. “The very wealthy should pay a fair share. Corporations should pay a fair share. The fact is there are corporations making close to a trillion dollars that pay no tax at all.”

Mr. Biden’s comments came after he was asked by David Muir, the ABC News anchor, about Mr. Trump’s having an edge over Mr. Biden in some polls asking which candidate has a better grasp of the economy.

Mr. Biden’s position on limiting tax increases to anyone making more than $400,000 is unchanged and was discussed by Mr. Biden during a CNBC interview in May.

“I’m not punishing anybody,” Mr. Biden said in the interview that aired on Sunday.

In the interview, he also sought to allay concerns that his tax plan could hamstring small businesses that have been fighting for survival in the economic downturn caused by the coronavirus pandemic. Mr. Biden said that 90 percent of businesses were the “mom and pop” variety and would not face tax increases.

“We have to provide them with the ability to reopen,” he said.