Biden calls abandoned UK tax cut plan a ‘mistake’

The hill ^ | 10/16/2022 | ZACH SCHONFELD

[ChicagoConservative27]

President Biden on Saturday criticized a tax cut plan that British Prime Minister Liz Truss has now largely backed away from as a “mistake.”

“Well, it’s predictable. I mean, I wasn’t the only one that thought it was a mistake,” Biden said during a trip to Portland, Ore.

Truss announced plans last month to cut taxes by the equivalent of roughly $50 billion without detailing how it would be paid for, spooking investors.

The plan sent the price of gilts, which are British government bonds, tumbling, as the pound plunged to a record low against the dollar.

[ChicagoConservative27]

Truss is a dumpster fire

[HighSierra5]

The Rats never met a tax they didn’t like.

[rrrod]

Her U turns are killing her at home.

[The Louiswu]

Why can’t the government stop spending to pay for these tax cuts?

[HighSierra5]

Why does a dog lick it’s balls? Because they can.

[skeeter]

I guess this comment is as close as we’ll get to a tax cut pander before November’s election.

[HighSierra5]

How do you make a hormone? Don’t pay her.

[Paladin2]

BiXiden is an macro Economic analyst of sheer genius.

[FlingWingFlyer]

Biden has also called receiving a fruit cake ice cream cone instead of his usual cherry delight a “mistake” also.

[Churchillspirit]

Glass house, Joe. Glass house.

[ConservativeInPA]

Biden a moron. The Torries are morons. The author of this story is a moron. Tax cuts are fine, but there needs to be a 2:1 government spending reduction. It not a matter of “paying” for tax cuts. Only economic mental midgets “pay” for tax cuts.

[LibWhacker]

Never worked a day in his life for an honest dollar.

[pgyanke]

I’m tired of the “how it will be paid for” line. Here’s a novel idea...

- Only spend what is needed to fund necessary government operations.
- If there is a shortfall, implement taxation to make up the difference.
- If there is an overage, reduce taxes and let people keep their own money.
- Be accountable for how public funds are spent.

It isn’t rocket surgery...

[TreasonObserver]

What the hell business is it of his what another country’s tax policy is? Man this guy is an arrogant SOB!.

[mac_truck]

An obvious place for Britain to cut spending would be its ongoing support for Ukraine, but the Tories aren’t smart enough to even do that.

Perhaps a nationwide general strike will change their minds.

[SunkenCiv]

What's Biden's FR nick?

[SuperLuminal]

No communist will ever say, or think, otherwise about taxes...

[moovova]

“Biden calls abandoned UK tax cut plan a ‘mistake’”

Biden wouldn’t know a tax cut from shinola.

[VeniVidiVici]

How is Biden ‘paying for’ $500bn of student loan forgiveness?

[Hiddigeigei]

Who woke him up and told him to say that (and why?).