Democrats rejected all Republican input to ram their “relief” package through Congress. The massive spending bill will cost $1.9 trillion.
Most of that money won’t go to anything COVID-related. It will be spent on leftist golden calves like Planned Parenthood. Not to mention blue states whose budgets were in the red for years.
Plenty of people have been wondering: where in the world will Democrats get all this money? It’s not as if they will have a tax surplus, as there was in the Trump administration (despite cutting taxes).
Well, now we know. Biden wants to put a huge burden on the country—one that hasn’t been done in thirty years.
President Joe Biden is considering a tax hike to underwrite the economic program launched by the approval of his $1.9 trillion pandemic stimulus package… The tax jump will be the first major lift in federal taxes in almost 30 years if successful…
Tax hikes included as part of infrastructure and job packages will likely include repealing part of former President Trump‘s 2017 tax law that benefitted corporations and wealthy individuals, the news outlet notes, citing sources close to the matter.
The $1.9 trillion package will just add to the government’s debt (who holds that debt, by the way? China?).
But all the additional spending Biden wants to do—that includes more wealth flowing into blue states—will be off the backs of Americans.
Biden wants a major tax hike, something we haven’t seen in 30 years.
The taxes being proposed (but not all that could be implemented) include taxes on those making more than $400,000, raising the estate tax, and increasing the already high corporate tax.
That might not sound like something that will affect regular Americans. But don’t be fooled.
Taxes on corporations are already higher than in many other countries. For many years, businesses have just outsourced both blue and white-collar jobs, just to save money.
What’s going to happen when Biden raises the tax rate even higher? Will there be any white-collar jobs left?
Tax hikes always have a way of trickling down to hurt the rest of us. Companies end up laying off workers, cutting back pay, or raising the price of goods and services.
And when Democrats realize they can get away with raising taxes on the wealthy, guess who’s next?
Do you think Biden should raise taxes on the American people?
- Reports suggest Joe Biden plans on raising taxes, for the first time in 30 years.
- The taxes will be used to pay for his massive, bloating spending plans.
- Most of the taxes will hammer business owners and corporations—who could move overseas.