Always be wary when someone offers you a “free lunch.” And when it’s the government handing out the freebies, you better run in the opposite direction.
That’s what Americans are learning right now, as Biden is set to spend trillions over “COVID” relief.
Sure, some folks might be excited to get $1,400 checks from Uncle Sam. But did they ever stop to think how Biden will pay for all his bloated spending plans?
The left claims they will only tax the rich—as if they are piggy banks for us to rob. But that’s not what experts said last year based on Biden’s tax plans.
From The Hill:
Biden is proposing tax increases of nearly $4 trillion over the next 10 years… Biden proposes an outright repeal of Trump’s tax reform package, raising taxes on the middle class, blue-collar families and American corporations, large and small.
And from IJR:
President Joe Biden is pushing Congress for a higher corporate tax rate to reform the Tax Cuts and Jobs Act of 2017…
The Tax Foundation estimates that 159,000 jobs would be lost as a result of the hike in the long term, along with wages and economic output taking a slight hit…
During the campaign, experts warned that Joe Biden’s plan to repeal all of Trump’s 2017 tax cuts would result in tax spikes for middle-class and working-class families, as well as for corporations.
Today, Biden is promising “only” to tax big corporations and those making more than $400,000 a year.
But even that is a political smoke and mirrors act. The Tax Foundation is revealing that increased taxes on businesses and the wealthy will result in punishment for everyone else.
As we’ve said previously, taxes on companies that employ workers will hurt the workers. The foundation claims about 160k jobs would be lost, as well as a hit on wages and economic output.
And that would most likely be just for starters. With the corporate tax rate set to rise, companies will eventually move overseas, taking both blue and white-collar jobs with them.
To talk about raising taxes in the middle of a pandemic is ludicrous. Democrats shut down businesses for over a year. Now, they want to punish those same struggling businesses with massive taxes that do nothing to “lift people out of poverty.”
Democrats think they have the support of the working class with this talk of taxes. They seem to think they can pit regular Americans against the rich.
And while we are fighting each other, they make off with our money.
Are you going to let Biden get away with that? If no, spread the word.
- Joe Biden’s proposed tax hikes will hurt middle- and working-class families.
- Corporations will be forced to lay off at least 160k employees.
- The Tax Foundation predicted an economic hit during the pandemic.