Posted on 04/04/2021 10:45:41 AM PDT by SeekAndFind
When Joe Biden unveiled his $3 trillion infrastructure bill, he told the American people that no one making less than $400,000 a year would have their taxes raised. He said, “No one making under $400,000 will see their federal taxes go up, period.”
In the immortal words of Independence Day Defense Secretary Albert Nimziki, “That’s not entirely accurate.”
On Friday, the president said that a two-partner family would be impacted if their combined income crosses $400,000. He also claimed that jacking up corporate and business taxes right at the beginning of the recovery from the pandemic “will not slow the economy at all.”
Does anyone else get the feeling that Biden and his advisors are just a bit delusional?
“It is a once-in-a-generation investment in our economic future, a chance to win the future — paid for by asking big corporations, many of which do not pay any taxes at all, just to begin to pay their fair share. And it won’t raise a penny of tax on a family making less than $400,000 a year, no federal tax, no addition,” he said.
The president’s description of the tax hike as applying to any “family” that makes more than $400,000 per year is a significant change from his earlier remarks, and could mean families on the cusp of affluence in areas with high costs of living are impacted.
[…]
In an interview last month with ABC News, Biden said, “If you make less than $400,000, you won’t see one single penny in additional federal tax.”
The number of families with two incomes exceeding $400,000 is a lot more than single taxpayers earning that amount. And if you have two children and a house and live in an expensive real estate market, even $400K doesn’t make one “wealthy.”
(Excerpt) Read more at pjmedia.com ...
Obama’s tax the rich scheme included my daughter making $12,000 a year.
I’m getting tired of these asshats taking my money to invest in the future. I can make bad investments on my own.
Pedophile, thief, plagiarist, corrupt power hungry bastard, and a liar to boot—not to mention senile and demented. Who knew? /s
😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝😝
This.
This criminal gang will end up pulling slices out of your loaf of white bread.
Or making it with sawdust.😖
The real threshold is $12,000.
If they get rid of all gasoline taxes at the pump , federal, state, and local, I could go along with the milage tax. I drive less than 6 miles a year. I have a 2020 Mazda CX 30 I got in December 2019, right now I have a whopping 5000 mikes on it.
How it always works.
Wrong discussion.
All the taxes will be passed on to the most economically weak by the economically strong.
Business taxes will be passed on to consumers, or workers will be fired and plants closed if the consumer won’t pay.
Of course the welfare dependents won’t pay the extra costs of taxes on business (unless they’re looking for jobs) - they never pay anything!
So the middle and lower middle class will actually pay the largest share of these taxes no matter who is ‘allegedly’ taxed.
He HAS to lower it considerably because THAT’S WHERE THE MONEY IS. It ain’t rocket science.
Dementia has reduced ChiComjoe to a mental and physical vegetable whose effective IQ has been reduced to that of his shoe size. Sometimes Vegetablejoe can manage to repeat euphemistic phrases written on cue cards or a teleprompter, or repeated in his earpiece, but even then he can mentally wander off before he is able to complete the sentence.
Turnipjoe is simply incapable of representing the United States or holding a meaningful conversation with a sentient person.
He will still blame the orange menace and the media will dutifully repeat the talking points.
Not sure I agree. If a couple file a joint return, it doesn’t matter if the mom is stay at home or working.... the tax rate would be the same I think. So in either case, the $400,000 threshold applies. For clarification, not a tax expert, we can’t trust Biden, and not in favor of any tax increase.
FUJB and your tax hikes. Home of the free loader.
>>Buttpegg’s gas tax will affect EVERYONE<<
These leftist concoct tax schemes on top of tax schemes.
Raising corporate tax rates will only result in higher cost of good and services.
Throttling back energy production results in higher fuel prices that reverberates through the economy in price hikes on just about everything.
Spending trillion upon trillions will contribute to inflation as well. As inflation begins to run up, the Not-so-federal-reserve will begin raising interest rates which will in turn slow borrowing for everything from autos to homes..further dragging on the economy.
As interest rates rise...so too will the cost of servicing the national debt. For every percentage point rise in interest rates, billions are added to the interest payments on the $30 trillion currently owed.
Not to mention foreign wars or “the big one” will add another 2 to 4 trillion to the national debt.
It just doesn’t stop. Are we headed for a crash in the dollar? If China, Russia move to a crypto currency and move away from the dollar as a reserve currency...what happens then?
The real threshold is $0.
Inflation is a tax hike on everyone!!!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.