Posted on 10/20/2020 4:54:05 AM PDT by C19fan
The highest earners in the states of New York, New Jersey and California could end up paying 62% in state and federal under Democratic presidential nominee Joe Biden's tax plan in what would be the highest tax rate implemented in more than 30 years.
The high rate would affect those earning more than $400,000 whilst those earning below that level would likely receive tax cuts.
Nonetheless, the rate would still see a double-digit increase on current tax rates.
(Excerpt) Read more at dailymail.co.uk ...
I never asked a poor man for a job.
And the dumb and dumber will still vote for him! Unbelievable! So brain washed!
the democrats have a history of defining millionaires as those who make 250000 a year for four years... so they have lowered the bar to raise taxes.
Envious low income people, especially those who live on the taxpayers’ money, will be happy to hear about these tax increases “for the rich.” There are a lot more people, each of whom has one vote, earning very little, than there are people who earn more.
Not only will the middle class tax increases be crippling, but you’ll be using what little income you have left to buy $6/gallon gas.
Bull. How are they receiving tax cuts when the first thing he is going to do is eliminate the Trump tax cuts.
But notice how the Democrats won’t touch people under $400k. That’s because the new base of their party are upper (and way upper) middle class white people, mainly on the coasts. They chose to let their old base, of white, working class, people rot on the vine, since they cannot both support these ‘low-lifes’ (as they now see them) and mass immigration at the same time.
Too bad it took the GOP 20 years to figure out who was available to be their new base (i.e., the ones that the Dems rejected), and only after Trump had to do it for them...and if Trump is gone, they’re likely to back to dumping on these people.
Don’t forget Electric car, and Green home THAT COST MORE. MORE UNSAVAGABLE WIND FARMS.
But that high rate will balance the budget, right?
And at the same time, let his friends shelter their untaxed money in foreign lands.
History is repeating itself. We are doing the same as FDR did by raising taxes up to 90% and creating the Great Depression.
I NEVER had a poor man sign my paycheck, either.
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