I don’t think there has been a President since President Teddy Roosevelt that was advocating so strongly for this measure.
One would think it was FDR but no; FDR inherited a CRIPPLED (sorry) tax code inherited from the decimation from Congress and Presidents during the 1920s that was nothing like what came out of President Teddy Roosevelt’s tenure.
Likewise, President Biden inherited a tax code severely cut at the knees, his options limited but what he asks is also very narrow and limited but powerful. Other measures will come into play to ensure they don’t price gouge, as the meat industry is doing in grocery stories during COVID
“Oh no the companies will bully us if we tax them too much” shows who they’ve bullied already.
Anyway, I keep being surprised when I hear it. Never heard it from any other President in my life, just candidates. Will it happen? Who knows. But go ahead: respond with “whatabout” some other thing. Floor’s open.
We only name the tax changes after the President.
But only the Congress is allowed to take action.
It was Mitch McConnell’s Congress which changed the tax code a few years ago that happened to be during Trump’s Presidency.
The inaccuracy in news reporting – and in how we talk about historical events – often misattributes cause and effect in cases where there’s really no reason for them NOT to attribute things properly. But they do because it’s easier to remember “Trump tax” or “Biden wealth tax” rather than …however one would describe the actions of Congress that happened to be in sessions concurrently with his Presidency.