Posted on 03/19/2021 9:39:57 AM PDT by JV3MRC
White House Press Secretary Jennifer Psaki shocked the internet when she drastically shifted the talking points on President Joe Biden’s major tax hike plans. Fox Business wasn’t having it.
Psaki clarified during a press briefing Wednesday that “families” with household incomes totaling over $400,000 will see their taxes increase. The statement appeared to directly contradict Biden’s indication that individuals — not families — would see taxes increased during an interview with ABC News that aired the same day: “Yes, anybody making more than $400,000 will see a small to a significant tax increase … If you make less than $400,000, you won’t see one single penny in additional federal tax.” Fox Business financial correspondent Jackie DeAngelis had one word for the Biden administration’s political doublespeak: “hypocrisy.”
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Of course he’s a hypocrite on tax hikes.
Pabulum to satiate and ignore the serious issues.
Nope, don’t watch fox anymore
I’ve been longwinded about what’s coming, I’ll just leave it to my tag line here...
FOX Business, Stewart Varney & Charles Payne are worth watching.
Yup, and as soon as they leave the traitorous commie supporting Fox network I may watch them again. FoxNews literally betrayed and took direct part in the destruction of our nation. They should not be supported in any way.
You are right. I probably watch a half hour of each a week and fast forward through the advertisers.
The have to tax the masses to get the money they want. That’s the way it’s always worked.
Example of How Stupid is the Administration
Host Hallie Jackson asked, “Of course, he could only do so much if corporations end up raising prices on things if they end up having a tax hike as well, right?”
Psaki responded, “He also believes that the American people are smart. They’re invested in this. They’re going to pay attention and that they know that corporations do not need to raise the cost of goods in order to pay more taxes and pay more of their fair share.”
Of course, corporation,being only a pass through for taxes will raise their prices. Duh!
What hogwash.
Taxes will go up for everyone except the wealthy. As usual. If you look up the net worth of a few prominent politicians, it’s easy to see why. They ARE the wealthy.
Pelosi - around 120 million 5 years ago
Kerry - around 190 m 5 years ago
Clinton - somewhere around 250 mil
Republicams are not much different, last time I checked, Issa was the richest person in government. Don’t remember how much, but John Kerry is above 190 mil. (but I think Kerry was not a senator at that time. SOS maybe)
The reason Pelosi wants to see Trump’s tax bill repealed, is they lost several existing tax shelters and “special deductions”.
Property taxes - Trump’s bill stopped allowing the deduction of all property taxes, only the first $10,000. In Pelosi’s case, taxes on her 3 mansions run about $140,000 total. (2 in san francisco, 1 in dc) That means she suddenly had to pay around $130,000 of her own taxes for the first time in her life. While she was screeching about how horrible Trump’s tax bill was, how it gave the rich a huge tax break, she was actually trying to pre-pay her 2018 property taces, to get that full write off one last time.
There were several write offs, tax shelters and deductions that disappeared. Pelosi also could no longer write off her wackifornia state income tax.
Don’t know how much biden might be worth, haven’t looked it up, but he is no different from other democrats, never saw a tax he didn’t like.
Now we have trillions in biden’s insane spending to deal with, taxes will go up. If they do increase corporate taxes two things will happen.
1. Corporations will raise prices to offset whatevercthry can’t figure out how go avoid paying.
2. Once regulations also kick in, small businesses will fail. Any small business that is incorlorated pays corporste taxes. No matter how small, that word incorporated puts you in corporate tax ville. That’s how stompy feet destroyed thousands of small businesses. Taxes and regulations.
And they will increase corporate taxes. Bet on it. I’m guessing not below 30%.
And of course the little guy, who biden claims he cares about, will be back in the 35% tax range, instead of the 12% current rate since Trump’s tax bill passed.
And the economy will respond accordingly. Just like it did when stompy feet was in the white hut.
The Jeff Beck Group did a song in the 70’s that puts it pretty well...
Goin down...
Goin down, down, down, down, down...
Goin down...
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