President

President Joe Biden sparked confusion and celebration on Monday when he made a blunder by saying Americans making under $400,000 will not pay a 'single penny in taxes'.

Biden was selling his infrastructure and social spending programs during a trip to Virginia with his wife Jill when he made the slip in his speech.

He was referring to his promise that Americans making less than $400k will not see any tax increases to help pay for the $4.1trillion infrastructure and spending packages he has proposed.

The president is instead hiking rates for the top 0.3 percent of earners, is almost doubling capital gains rates for those pulling in $1 million a year and raising corporate tax rates.  

'The reason I'm bothering to do this (raise taxes) is I keep hearing out in the press, "Biden is going to raise your taxes."'

'Anybody making less than $400,000 a year will not pay a single penny in taxes.

And we will not increase the deficit either, unlike the last gigantic tax cut, which increased the deficit by $2 trillion,' he said, referencing President Trump's 2017 tax cuts.

President Joe Biden sparked confusion and hvac jobs near me (go to this site) celebration on Monday when he made a blunder by saying Americans making under $400,000m will not pay a 'single penny in taxes' 

'It's about balancing the system and growing the economy.

It means wealthy investors no longer pay lower marginal tax rates than their secretary pays -- the secretary in their office.' 

The White House later released a transcript of his speech and didn't correct his statement.