Biden Tells Wealthy Donors He Won’t Demonize Them If Elected President

Joe Biden has taken a lot of heat for telling a room full of wealthy donors this week that their standard of living isn’t going to change when he’s elected president, but that snippet was taken out of context. He implied that he’d raise their taxes, but he wouldn’t do it to the degree that other Democrats want. But there were other statements he made that should be a concern, as Ring of Fire’s Farron Cousins explains.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

On Tuesday, Joe Biden met with a group of more than 100 wealthy donors in the Carlyle hotel in New York to promise them and reassure them that nothing is going to change if he is elected president. Or at least that's what a lot of the headlines want you to think. Joe Biden said now to be sure Joe Biden said that, but he said it in a broader context right now, there's a lot of headlines going on saying Joe Biden promises wealthy people, their standard of living won't change if he's president and people are freaking out saying, ah, there's the corporate as Joe Biden, we've been warning you about, make no mistake. Joe Biden's a corporatist Joe Biden was absolutely kissing the ring of these wealthy donors. And I'll get to that in a moment. But that particular snippet is not what it seems. And there are plenty of other snippets from his little fundraiser that should cause even more concern.

And again, I'll get to those in a minute. Um, but here is the full context, the full quote of what Joe Biden actually said. He said, the truth of the matter is you all, you all know, you all know in your gut what has to be done. We can disagree in the margins, but the truth of the matter is it's all within our wheelhouse and nobody has to be punished. No one standard of living will change. No, nothing would fundamentally change. So what he's talking about is look, Hey, wealthy folks, we all know what has to be done. You know, I got to raise your taxes, but it's not even going to really affect you because you have so much money that, that, that's what Joe Biden's here, uh, saying that that's what he said. So, okay, maybe that part was a little bit overblown. Right? Well now here's the part folks that you need to be pissed off about.

Joe Biden also said, I mean, we may not want to demonize anybody who's made a lot of money. He goes on to say, when we have income and equality as large as we have in the United States today, it brews and ferments political discord and basic revolution. It allows demagogues to step in and say, the reason where a, where we are is because of the other. You’re not the other. I need you very badly. I hope if I win this nomination, I won't let you down. I promise you I have a bad reputation. I always say what I mean. The problem is sometimes say all that. I mean, so here he is. That's a swipe at people like Bernie Sanders and Elizabeth Warren, people who say, guess what, billionaires, we're going to tax you to help pay for other things in this country. And Joe, I understand you don't want to piss off the people who are going to fund your campaign because the grassroots folks are gravitating towards the warrens and the Sanders.

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