With all their tax-and-spend initiatives, who didn’t see this one coming?
Remember when Joe Biden, Kamala Harris, and their White House mouthpiece Jen Psaki repeatedly promised that NO ONE making under $400,000 would see an increase in their taxes? Well, that turns out to be a complete load of crap — and they knew it.
It simply does not make sense to spend trillions and trillions and trillions of dollars and not expect to make up that revenue in one way or another. And since the Biden administration is hellbent on wasting money with little demand from foreign governments, their only recourse is to tax the hell out of American workers.
The Democrats’ $3.5 trillion infrastructure bill would break Joe Biden’s pledge not to increase taxes on working-class Americans.
The Joint Committee on Taxation (JCT) found that the House Ways and Means Committee’s portion of the $3.5 trillion infrastructure bill would increase taxes on Americans making $50,000 or more per year, according to a JCT report.
Multiple analysis of the infrastructure bill would serve as a significant break from Biden’s promise not to raise taxes on Americans making less than $400,000 per year.
Jen Psaki says Biden will not budge on his refusal to raise taxes on people making less than $400,000. Republicans want to make working people pay for the improvements to infrastructure. pic.twitter.com/A0sdQ8ioFB
— Sarah Reese Jones (@PoliticusSarah) May 10, 2021
The JCT analysis even found that the proposal would increase taxes on Americans in calendar year 2027 for those making between $30,000 to $40,000 per year.
The House Ways and Means Republicans noted many of the ways that the Democrat proposal would subsidize American families making more than $800,000 annually:
— Mark Bednar (@MarkBednar) September 14, 2021
In other words, the Democrats’ proposal would stick working American families with a giant tax bill while rewarding the liberal elite — and Republican lawmakers are taking notice.
The House Ways and Means Committee Chairman Richard Neal, a Democrat, also left in the carried interest loophole that would benefit billion-dollar hedge funds.
Aren’t the Democrats supposed to be the ‘Party of the Worker?’
Rep. Thomas Suozzi (D-NY), a moderate Democrat, has demanded that Democrats repeal former President Donald Trump’s limitation of the state and local tax (SALT) deduction. The SALT deduction primarily benefits wealthy, blue states such as New York, New Jersey, and Connecticut.
Democrats remain poised to increase taxes on most Americans with their $3.5 trillion proposal.
Despite Rep. AOC’s stunt at the Met Gala this week, wearing a dress with with a “Tax The Rich” message, it seems her party will be taxing mostly everyone — except those who run such events as the Met Gala.
The hypocrisy truly knows no bounds!
Democrats have already broken their promise not to raise taxes on anyone making less than $400,000 per year. Whether it’s higher prices or higher taxes, Democrats are taking a sledgehammer to Americans’ paychecks.
Despite his party’s proposal to raise taxes on most Americans, Biden said Tuesday that the “super-wealthy” and “big corporations” should pay more in taxes.
It’s time the super-wealthy and big corporations pay their fair share in taxes.
— President Biden (@POTUS) September 14, 2021
Author: Elizabeth Tierney