Posted on 04/06/2022 10:25:54 AM PDT by Rummyfan
The Biden administration recently released a $5.8 trillion-plus budget proposal. The president’s “billionaire tax” proposal and its terrible economics have received the most attention.
Yet there’s also a big tax hike on workers slipped into the fine print of President Joe Biden’s new budget. That pesky fact didn’t stop the president from repeating his big lie that only “the rich” will pay more under his plans.
But consider the facts. The plan includes a proposal for raising the corporate tax rate from 21% to 28%, which Biden said “ensures that corporations pay their fair share.” I know what you’re thinking: Boohoo, who cares if corporate bigwigs have to pay Uncle Sam more?
In reality, however, most economists agree that the corporate tax is in part born by the working class through lower wages. Studies have consistently found that more than 50% of the burden comes out of workers’ wallets. As for Biden’s corporate tax hike proposal specifically, a Tax Foundation analysis found that it would lead to lower wages, lower economic growth, and 159,000 fewer jobs.
(Excerpt) Read more at based-politics.com ...
We are already being taxed by Biden’s inflation.
Then there's the fact that everybody's 401K depends on corporations making money.
That’s impossible, after all Democrats are the party of the little guy and the worker.
So I’ve been told....
First tax havens had to be squeezed out.
Now that the escape routes have been brought to heel, the ratcheting up of taxation and quashing of free enterprise can proceed.
The idea, like everything else these scum do, is to grind down life until both a) everything’s under their control; and b) it’s impossible for regular people to succeed.
At that point the ‘solution’ of just turning everything over to them will be introduced as a relief — while if implemented will redouble the misery.
Precisely.
So do govt employees retirement systems, e.g. CalPers.
Corporations do not pay taxes. Their customers do.
Government employees do not pay taxes. They just think they do........................
It HAS to be massive and sneaky...because hardly anyone is working now
democRATS aren’t smart enough to understand the business model of a lemonade stand...
Figured I could trade stocks...all by myself...in the blink of an eye.
That was a long time ago now....Like 99 or so...
I do a little swing trading of ETF’s within my Roth IRA so that I don’t pay capital gains tax on it. It’s only about 7% of our portfolio, so it’s not like I’m banking our future on it. But it means that the most taxable investment activity we have (short term capital gains tax) doesn’t exist because it’s in the Roth IRA.
Every Q I'm paying near 43% total to the State, and Feds. It sucks...but I'm used to it.
I buy info from one place.....
Studied TA & FA on charts....for many years...
I'm friends with 3 other people...that actively trade.
Each to their own.....
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