Biden Senior Moment: 'I Would Eliminate Capital Gains Tax. ... I Would Double It'
Within the span of a few seconds during the fourth Democratic debate on Tuesday, former Vice President Joe Biden drastically reversed his position on a key tax provision.
“We have to start rewarding work, not just wealth. I would eliminate the capital gains tax. I would— I would raise the capital gains tax to the highest rate of 39.5 percent, I would double it," Biden said.
This was less of a flip-flop and more of a gaffe. Biden's position on increasing the capital gains tax fits his ambition to reward work rather than wealth.
Concerns about Biden's age and his gaffes have weakened his campaign. Recently, the former VP fell to second place behind Sen. Elizabeth Warren (D-Mass.) in the polls.
Follow Tyler O'Neil, the author of this article, on Twitter at @Tyler2ONeil.