Photo: Dustin Chambers/Getty Images

At a high-level fundraising event in New York Tuesday night, 2020 Democratic frontrunner Joe Biden said he wouldn't want to "demonize" the wealthy and that "no one's standard of living will change" if he's elected, according to a pool report.

Why it matters: Biden's position as an establishment Democrat has put him at odds with what he referred to in his remarks as the "New Left," a wing of the party in which candidates like Sens. Bernie Sanders and Elizabeth Warren have targeted the ultra-wealthy in their fight against income inequality.

What we know: The event was hosted at the Carlyle Hotel on the Upper East Side by Eric Mindich, CEO and founder of Eton Park Capital Management. It was Biden's third fundraiser of the day, with his first reportedly requiring a $2,800 contribution level for attendance, per another pool report.

Speaking about income inequality to approximately 100 donors, Biden said that he's found that "rich people are just as patriotic as poor people."

"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's standard of living will change, nothing would fundamentally change."

Of note: Earlier in his remarks, Biden did reference the need to rebuild what he dubbed the "backbone of America," arguing that ordinary people must be given pathways to success.

"You all are extremely successful people. But with all due respect, Wall Street didn't build America. The wealthy didn't build America."

Go deeper: Joe Biden on the issues, in under 500 words

Go deeper

Updated 55 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12:30 a.m. ET: 32,994,213 — Total deaths: 996,682 — Total recoveries: 22,850,358Map.
  2. U.S.: Total confirmed cases as of 12:30 a.m. ET: 7,114,235 — Total deaths: 204,752 — Total recoveries: 2,766,280 — Total tests: 101,298,794Map.
  3. States: 3 states set single-day coronavirus case records last week — New York daily cases top 1,000 for first time since June.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.

Democrats demand Trump release his tax returns after NYT report

Compilation images of House Nancy Pelosi and President Trump. Photo: Joshua Roberts/Getty Images/Chip Somodevilla/Getty Images

Democrats called on President Trump to disclose his tax returns following a New York Times report alleging he paid $750 in federal income taxes in 2016 and 2017 and nothing in 10 of the past 15 years.

Details: Trump said the report was "total fake news," that he's unable to release the returns as they're "under audit" by the IRS, "which does not treat me well." House Speaker Nancy Pelosi (D-Calif.) said in a statement the report "provides further evidence of the clear need" for a House lawsuit to access the tax returns and "ensure the presidential audit program is functioning effectively, without improper influence."

Updated 3 hours ago - Politics & Policy

Former Trump campaign manager Brad Parscale hospitalized

Brad Parscale, the former campaign manager for President Trump's re-election campaign, at Drake University in January in Des Moines, Iowa. Photo: Tom Brenner/Getty Images

Fort Lauderdale police arrived at former Trump campaign manager Brad Parscale's home on Sunday after his wife called and said he was threatening to harm himself, Florida officials confirmed to Axios.

Details: Fort Lauderdale Police Sgt. DeAnna Greenlaw told Axios officers responded to a report of "an armed male attempting suicide" just before 4 p.m. local time.

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