Joseph Biden criticized neoliberalism | “The effect …

The American President, Joe Biden, criticized the neoliberal policies that led the United States to the financial collapse of 2008 and called for a shift in the economic model to one that is more inclusive, just and united. in his first speech as president before both houses of Congress. “The ripple effect on the economy has never worked. It’s time to make the economy believe from below and from the middle.”, he stressed, in the traditional message of the State of the Union. “The middle class built this country and unions helped build the middle class.” It is high time that the big companies and the richest of the country, which represent 1% (of the population, pay their fair share of taxes, ”declared the American president.

“Just the fair share”Biden reiterated in his speech, in which he stressed that the fortunes and big companies must help by paying with their taxes the public investments that his government intends to undertake. Biden noted that a recent study guarantees that 55% of large businesses paid no federal taxes last year and made $ 40 billion in profits, while many have evaded taxes or taken advantage of benefits and deductions to employ their workers in other countries. “And that’s not fair,” he denounced.

After explaining that those earning $ 400,000 or more per year will return to tax at 39.6%, as was the case during the presidency of Republican George W. Bush (2001-2009), assured that the government will close the loopholes which allow the richest to pay well below what they should according to their incomes. And he warned that the Treasury Department will doubtfully act with millionaires who intend to “cheat” on their earnings. “Many companies also avoid taxes by tax havens in Switzerland and Bermuda and the Cayman Islandsand take advantage of tax loopholes and deductions to relocate jobs and move profits overseas. It’s not correct, ”Biden said.

With the increase in taxes on the richest, the Biden government wants to pay for its family plan, with social measures for $ 1.8 billion. And with the increase in taxation of large companies, it is proposed to finance the Employment Plan or Infrastructure Plan, with more than two billion in investments and the creation of millions of jobs to finance the country’s infrastructure.

Previously, Biden has been a strong advocate for the work of the country’s unions and has pointed out that “Wall Street did not build this country”Instead, it was “the middle class”. “And the unions have built the middle class,” he said. In that speech he gave on the eve of his 100th day in the White House, Biden called on Congress to endorse his proposal to stand up for labor organizations and the right to belong to them.

He also made other allegations, betting on a living wage and stressing that no one who works 40 hours a week should be below the poverty line. “We will guarantee better access to better education,” he added. Underlined that His plan includes a tax cut for each child and four additional years of free education, two for infants and two for community colleges.