WASHINGTON (Pakistan Point News / Sputnik - 22nd July, 2020) Presumed US Democratic candidate and former Vice President Joe Biden on Tuesday unveiled a $775 billion 10-year economic plan that will tighten America's tax laws and make rich property developers pay for child- and elder care, a responsibility he alleged had been abdicated by President Donald Trump.
"Growth in our economy slowed. This is both a moral and economic imperative for the nation," Biden told a live-streamed event on his so-called Build Back Better plan.�"How we pay for it is by rolling back on productive tax cuts, (like) some of the $2 trillion-tax-cut the president put through and by closing loopholes in unproductive tax cuts for high-income real estate Investors while ensuring high income earners pay their tax bills. We invest that and that would add up to $775 billion Dollars over 10 years."
Biden's plan seeks to create 3 million jobs in the healthcare and education sectors, while bolstering the workforce overall by 5 million by allowing people who were taking care of children or relatives to rejoin the labor force after the devastation caused by the coronavirus pandemic.
As part of the proposal, all 3-year-old and 4-year-old children would have access to free preschool, which would save parents thousands of dollars a year in childcare costs, he said.
The sum effect of his plan is to make childcare more affordable and accessible for families and make it easier for aging relatives and loved ones with disabilities to receive home or community-based care, Biden said, adding that these were responsibilities abdicated by Trump, his Republican rival.
"For all his bluster about his expertise on the economy, he is unable to explain how he will actually help working families hit the hardest," Biden said, referring to Trump. "He's quit on this country. This election is not just about him. It's about us. It's about you. It is about what we'll do. What a president is supposed to do and is supposed to care about."
Trump, meanwhile, credits himself as doing an "incredible job" in reviving the economy from the business shutdowns and job losses forced by the pandemic, saying a Biden presidency is what will� take America back to a "1929 situation" � referring to the Great Depression then.
Biden and Trump face off in November 3 elections against the backdrop of the worst likely recession in US history caused by the COVID-19, racial tensions and public protests against law enforcement.
