Posted on 03/18/2021 5:00:22 PM PDT by MtnClimber
If you’re an American of average income, listen up. You’re about to become a lot poorer. President Joe Biden’s proposed soon-to-be-unveiled multi-trillion dollar tax hike, the first major increase in taxes since 1993, will ensure that.
With a massive wave of new spending on the way, it was only a matter of time before Biden and his far-left economic team came up with massive new tax increases to match. You might be happy with your $1,400 “stimulus check,” but you won’t be happy with the higher taxes you’ll be paying from now until you die.
That’s right, because no matter what the Democrats said during last year’s presidential campaign about “taxing the rich” and “big corporations” it’s the middle class and the poor who will really take a hit.
Though still in the discussion phase, the White House says only those earning more than $400,000 a year will feel the pain. They’ll face higher taxes on their estates and so-called pass-through businesses, including limited-liability companies and partnerships. Millionaires might get a double-whammy, with both higher income and capital gains taxes.
A tax-fairness win for the little guy? Don’t believe it. Biden also wants to raise the corporate tax rate from the current 21% to 28%, a one-third increase. And that tax on “pass-through” businesses? That’s a tax-code euphemism for “small businesses.”
Stick it to the man, right? Sorry, but the man is you.
(Excerpt) Read more at issuesinsights.com ...
Thank you for posting this. This info needs to be shouted from the housetops. Xiden, or actually his handlers, are idiots. They wouldn’t know fiscal responsibility if it bit them on the leg.
“...becoming a reverend and forming a little church for instance.”
On November 4, 2020, I declared myself, ‘The Free State of Diana’ and I have been SO much happier, since.
‘The Free State of Cherry’ has a nice ring to it. You should try it. :)
Never in doubt!
If that despite being under 20,000 a year. See No Stimulus Check Yet? Here Are 7 Possible Reasons But praise God for whatever comes.
But, of course the media will ie with an open face...
Media: "Those tariffs are costs that will be paid by the consumer:" (Actually, for unusual reasons they were mostly paid by Chinese manufacturers).
Media: " Those taxes are costs that will not be paid by consumers!"
Bald faced lying.
Yes, that means higher prices, and resulting in more liberal the propaganda that those who have less are necessarily all "victims" of those earned more, and forced to become poorer thru taxes, and with the populace ending up increasingly dependent upon the government, and accept the restrictions that result. This dependency is being fostered in the lower income (relatively) densely populated city where I live in which I have never seen so much food being distributed. I looked at a sheet in a box someone dropped off here (not asked, but on their own accord) and it shows all the places food is being distributed. I counted them all up and with breakfast and lunch portions for 3 or 4 days respectively being distributed at two different locations at different times Mon-Fri under one program alone, then a person could pick 72 meals if they went to both locations each of the 5 days.
I thank God for whatever He gives but I think this program is tax funded.
Even if we identify as a black farmer?
Nice use of our language. Bravo
This!
Possible sources: taxes, inflation, printing money, debt. etc.
Citizens are ultimately the only source of value.
The one that scares me to death is the "backed by full faith and credit of the US government." That's us! The bastards can commit us to financial obligations without our consent.
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