List of Biden Tax Hikes Hitting Americans on Jan. 1

Americans for Tax Reform ^ | December 29,2022 | Palicz

[Hojczyk]

$6.5 Billion Natural Gas Tax Which Will Increase Household Energy Bills

Think your household energy bills are high now? Just wait until the three major energy taxes in the Inflation Reduction Act hit your wallet. The first is a regressive tax on American oil and gas development. The tax will drive up the cost of household energy bills. The Congressional Budget Office estimates the natural gas tax will increase taxes by $6.5 billion.

$12 Billion Crude Oil Tax Which Will Increase Household Costs

Democrats are imposing a 16.4 cents-per-barrel tax on crude oil and imported petroleum products that will be passed on to consumers in the form of higher gas prices.

$1.2 Billion Coal Tax Which Will Increase Household Energy Bills

The tax hike more than doubles the current excise taxes on coal production. Under the Democrat proposal, the tax rate on coal from subsurface mining would increase from $0.50 per ton to $1.10 per ton while the tax rate on coal from surface mining would increase from $0.25 per ton to $0.55 per ton

$74 Billion Stock Tax Which Will Hit Your Nest Egg — 401(k)s, IRAs and Pension Plans

When Americans choose to sell shares of stock back to a company, Democrats will impose a new federal excise tax which will reduce the value of household nest eggs. Raising taxes and restricting stock buybacks harms the retirement savings of any individual with a 401(k), IRA or pension plan.

$225 Billion Corporate Income Tax Hike Which Will Be Passed on to Households

Democrats imposed a 15 percent corporate alternative minimum tax on the financial statement income of American businesses reporting $1 billion in profits for the past three years. These American companies employ millions of Americans.

The cost of this tax increase will be borne by working families in the form of higher prices, fewer jobs, and lower wages.

[Eleutheria5]

I’m not running you down. OK? Buffet’s comments were inaccurate and misleading. But I have no personal animus against anyone. Buffet is in the business of buying and selling equity. When he or his corporation makes a capitol gain, he pays capitol gains tax. The corporations whose stock he buys and sells pay income tax at the corporate rate, which is lower than the personal rate, because the employees, both great and small, pay personal income tax working for this corporation, and the stockholders pay personal income tax on the dividends they receive, if any.

I’m not “defending” a corporation, I’m just stating facts, which are stubborn things, as am I. If you are so certain that there are these corporations who supposedly don’t pay any tax, give me their names. Then we can both argue about facts, rather than our respective intentions and motivations.

[RetiredArmy]

Gas prices shot up 10-15 cents here today.

[beachn4fun]

Mom is a dyed in the wool mentally retarded liberal, she imagines whatever is wrong is Republicans fault, either now or it’s bc they were in power. Sickening, I can’t even talk to her bc she lives in an alternate reality

We feel your pain. Hubby's got at least one of those. I tell him to not bother because a liberal wouldn't know the truth if it hit them in the head.

Try telling her: only the Republicans that voted with the Democrats. ;~}