Biden insists rich Americans will still have ‘two homes and their jets’ despite tax hike

President Biden said his tax proposal is not about ‘punishing anybody’

President Biden on Thursday defended his soak-the-rich tax agenda, maintaining that America’s highest-earners will keep their vacation homes and private jets despite the new levies. 

During a speech from Lakes Charles, Louisiana, Biden sought to drum up support for his $4 trillion spending proposals designed to redistribute trillions in wealth and dramatically expand the government-funded social safety net. He insisted that he wants to create a tax system where “everyone pays their fair share” by imposing higher levies on corporations and the top sliver of U.S. households.

“This is not punishing anybody,” Biden said. “All those folks are still going to have two homes or three homes and their jets. It won’t matter. Not gonna change their standing one little bit.”