Someone needs to call him on this finally
Those corporations raise their prices to cover the tax increases
So the people do wind up paying them when they buy the goods and services
Joe knows this, all socialists know it
Time to not let them slide on this crap
Its a pass-through to consumers/customers
The problem with high corporate tax is that the corporations can just leave for overseas.
People have harder time to move, but for corporation, it is a piece of cake.
I fully expect the US Government to come after Roth’s as it avoids taxes.
I also expect demonization of double dippers, those of us getting military retirements and social security. Veterans are now a conservative minority so a target.
When — not if — Biden steals 2024, he will be instructed by Obama to raid, outright, all 401ks and Roths.
Get sick of seeing these dramatic articles. Biden is going to take your 401(k)s here is the sneaky way he will do it...then nothing in the write up about how this will ever come to pass. Regardless it’s using FEAR to motivate to something that is just not even talked about. Please just stop. We have enough to worry about for real.
Biden is raiding my retirement account everyday with his inflation spending.
Gasoline has jumped in our state about 40 cents per gallon in the last couple of months, including a 10 cent jump last week.
If that is not raiding my retirement account, nothing will.
My wife and I worked 40 years to build modest retirement accounts and I’d estimate their purchasing power has gone down 25 percent since Biden seized control of the government; certainly no less than 20 percent.
So, Bernie proposes to increase every corporation’s labor costs by at least 20%. And Biden wants to increase their taxes 30-40%. And they think that won’t be passed on, and cause even more inflation?
ping
FAIRtax ping!
The 2017 tax law was a huge benefit for small corporations like mine, with fewer than twenty employees. When Biden speaks of a corporate minimum tax he is talking about me - not the giant multi-nationals who fund his party.
Joe will have a hard time finding mine. The only retirement fund I ever had was as a NY State employee, and since I’ve been retired for 20 years, and lived longer than they thought I should, there isn’t even anything left in that.
Democrats have been slavering over IRAs and 401ks for years. It’s huge pool of money that would fund their schemes (and cronies) if they could grab it. Taking the money and handing back an IOU is how they raided Social Security, so they know it works.
Biden and his propaganda machine continue to promote the abject lie that the way to raise tax revenue is to raise the tax rates.
What INARGUABLY needs to be done is to eliminate our Byzantine tax code re deductions and tax breaks - every letter of it.
Many huge corporations pay little or no taxes because of our perverse tax code.
This would make armies of accountants, lawyers, and political staff unemployed virtually overnight. Not that these are bad people, but their talents are being directed to activities that provide no marginal benefit to society.
Eliminating the tax code would also dramatically reduce political corruption, as there would no longer be an incentive for corporations to persuade legislators to tip the scales in favor of the corporations.
Calibrating and reducing the federal deficit would then be much easier to do as the collective tax burden would be much more easily calculated without the complications brought about by tax deductions currently in the tax code.
In short, have a tax rate, yes, but have ZERO deductions.
Better take your money out of your 401k. Even if he doesn’t do it now the country is going down the hole and your money will follow. Buy real good with it and prepare for hard times.
if I had to do it all over again, I'd give very little to my 401k and instead save/invest outside of my official retirement acct...least its there for me to do what I want with it.
As we all know and have stated over and over ... the corporations pass on the tax to the people who are the ones who ultimately pay it.
People making less than $400K will pay more in taxes if Biden is reelected.
.
Swamp Tax Raid - bump for later....
The bipartisan uniparty is printing money like it is the end of the world and taking a huge chunk of everything you have via inflation.
Dear Joe: Good luck in raiding my retirement account. Unfortunately, you’ll have to go see Hussein Obama. He got it back in 2008-2009.
FU very much.