President Joe Biden has encountered criticism following his proposal of implementing a tax on billionaires, a move aimed at potentially generating hundreds of billions in revenue for the U.S. government. However, critics have raised concerns about whether these funds might be directed towards funding military engagements overseas.
Using X, the platform formerly known as Twitter, Biden shared that a proposed minimum tax rate of 25 percent on billionaires could yield $440 billion over the upcoming decade.
In his post, Biden emphasized, “Imagine the possibilities if billionaires contributed their fair share of taxes, akin to everyone else.”
Jo Jorgensen, the president of People for Liberty and a former nominee for the Libertarian Party in the 2020 presidential election, responded to the tweet with skepticism about whether the raised funds might be utilized for military purposes.
“Will this be used to finance more overseas conflicts?” Jorgensen queried on X.
A spokesperson from the White House contested the notion that the proposed tax was intended to fund warfare.
“The President’s intention is to reduce the deficit by ensuring that the extremely wealthy and large corporations pay their equitable share,” the White House representative conveyed to Newsweek via email. “Nowhere in the tweet does it indicate that the funds would be allocated to support conflicts abroad.”
Biden Seeks Billions for Ukraine, Israel
Biden has urged Congress to allocate over $100 billion in funding, earmarking a portion for Ukraine, Israel, and humanitarian aid for Palestinians in Gaza, surpassing $60 billion for Ukraine.
However, the proposal faces gridlock in Congress as some Republican House legislators hesitate to approve increased aid to Ukraine. While the GOP-led House has endorsed funding for Israel, the White House has expressed a preference for a comprehensive package covering both nations.
Support for military aid has dwindled significantly in recent months. A Gallup poll revealed that over 40 percent of Americans believe the U.S. is overly involved in assisting Ukraine, nearly doubling from August of the previous year. Among respondents, 62 percent of Republicans and 44 percent of independents share this perspective, compared to only 14 percent of Democrats.
Most Americans Support Israel
In contrast, a majority of Americans support Israel’s actions in Gaza, as per a November PBS NewsHour/NPR/Marist poll. However, Biden faces division within his own party, with approximately 46 percent of Democrats disapproving of his approach to the conflict while 50 percent approve. This demonstrates the challenge the president encounters regarding this issue.
Vermont Senator Bernie Sanders, an Independent aligned with Democrats, recently advocated for “conditioning aid” to Israel, emphasizing the necessity of ending indiscriminate bombings that have claimed numerous civilian lives. Sanders proposed a significant halt in military operations to allow substantial humanitarian aid to enter the region.
