Former Vice President Joe Biden’s tax plan has raised more than just the eyebrows of rapper 50 Cent; now Home Depot co-founder Ken Langone has denounced the plan for potentially putting the middle class “in peril.”
Speaking on “Mornings with Maria,” Langone argued that the middle class will suffer greatly and that taxing the rich will not generate the government’s desired revenues.
“The only way a tax increase will generate revenues is to go after the middle class. That’s where the numbers are,” he said. “These people are being misled.”
“There is not going to be enough money generated from the so-called rich to take care of all the needs,” he added.
Later, Ken said that the rich can always absorb higher taxes, but the middle class will be “in peril.”
“I don’t know if there’s any of us that have done well that will have a problem with paying more taxes, but it’s a ruse to think that hitting us and us alone is going to get the job done,” Langone said, as reported by Fox Business. “It won’t and the middle class will be in peril and when you take money out of the hands of the middle class, you do a dramatic impact negatively on the economy.”- READ MORE
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