By Sam Youngman - 08/25/10 06:27 PM EDT
Biden, speaking to a small group at a middle-class task force roundtable Wednesday at Pete’s Apizza in Washington, D.C., said that while he and President Obama want to extend tax cuts for the middle class, the country cannot afford $700 billion in cuts for the wealthy.
“They've already got disposable income,” Biden said of the “super rich.”
“They're spending all they're going to spend anyway.”
With Obama still vacationing in Martha's Vineyard, Biden has taken the lead in firing back at Republicans like House Minority Leader John Boehner (R-Ohio), who on Tuesday called for the resignations of Obama's economic team. Biden warned that the debate over the Bush tax cuts, which are set to expire at the end of the year, is “one of the big fights we're going to have” when Congress returns from its August recess.
Biden promised that the White House will “fight like the devil” to maintain middle-class tax cuts while rolling back those for the wealthy.
“It's costly, but at a time of recession, you should not be raising taxes on people who need disposable income, or on small businesses, for that matter,” Biden said. He added: “There's nothing populist about this. It's just simple economics.”
Biden said that he is glad there are “super rich” in the country, and that he hopes one of his grandchildren will join their ranks.
“I hope one of my grandkids makes that kind of money, so when they put me in a home, I get a window with a view,” Biden said.
—Article was originally posted on the newspaper's website.