It's the Brian Larry Show on WNYC. Good morning again, everyone.

Well, now that Biden and Trump have both won enough delegates as of last night, in case you missed that, to clinch their nominations.

One of the issues that will be a real contrast in the election is taxes.

President Biden has just proposed his annual budget for the next fiscal year, and I know,

yawn, that can sound dry and wonky when you say budget, but it's also a campaign document

that sets up a populist

showdown that he wants between him and Donald Trump. Trump has his brand of populism, right,

which is largely, let's say, culture war populism and election denial. Biden has his brand,

which is more economic, reflected in this excerpt from last week's

State of the Union address. You know, there are 1,000 billionaires in America. You know what

the average federal tax is for those billionaires? No. They're making great sacrifices,

8.2%.

That's far less than the vast majority of Americans pay.

No billionaire should pay a lower federal tax rate than a teacher, a sanitation worker,

or a nurse. I propose a minimum tax for billionaires of 25%, just 25%.

You know what that would raise?

That would raise $500 billion over the next 10 years.

And imagine what that could do for America.

Imagine the future with affordable child care.

Millions of families can get, they need to go to work to help grow the economy.

Imagine the future with paid leave because no one should have to choose between working and taking care

of the sick family member.

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