Posted on 03/12/2023 3:24:39 AM PDT by Libloather
My former boss and mentor Dick Armey, the former House majority leader, used to quip that "liberals love jobs, but they hate employers."
Based on his budget proposal released earlier this week, you would have to say that Biden flat-out loathes employers. Never before in American history has a president released a budget/tax plan that wallops American businesses with a bigger tax bill than this.
The budget Biden proposes contains roughly $4 trillion in higher taxes over the next decade. He keeps saying that he just wants millionaires and billionaires to "pay their fair share," but this plan isn’t so much a punch in the nose to the wealthy (who already pay 42% of the income taxes) but to the nation’s small business owners and the shareholders of large and successful American companies.
The snapshot below shows the current tax rates and the tax rates proposed in the Biden budget.
**SNIP**
The Biden budget would raise the personal income tax rate to its highest level since Jimmy Carter was president. The problem with this scheme is that a majority of the tax filers in that highest tax bracket are not people like high-paid superstars like LeBron James or Ariana Grande.
Most of the tax fliers who will be socked with the higher taxes either own, invest in or operate small and medium-sized businesses. (Remember, most small and medium businesses do not pay corporate taxes, the owners pay the taxes on the company under the personal income tax system.) So how are you going to create more jobs and higher wages when you are sucking more money out of these companies and their employers?
(Excerpt) Read more at foxnews.com ...
House Republicans could force a vote on Biden’s budget: ‘Every Democrat will be put on the record’
https://www.foxnews.com/politics/house-republicans-vote-biden-budget
He is a traitor. He and his Commie friends want to destroy any small amount of freedom left in the world. And they plan to use a money system that they don’t even have to print.
Key Click, your bank account and life savings is GONE!
“Spy” has connotations of secrecy. Biden is pretty blatant in his “America last” sympathies.
It’s dead in the water anyway just like every other President’s budget.
What it shows us is a look at his priorities which are the exact opposite of any normal American.
Yep.
“He keeps saying that he just wants millionaires and billionaires to “pay their fair share,”
_________________________
They have used that line for years and years ..... apparently it works. Words from the left are weapons and tools..... and lies work well.
“liberals love jobs, but they hate employers.’
except public and government employers. Everything the left does legislatively works to increase the number of workers in the public sector, and this is where the unions are strongest.
The strategy is creeping socialism. Private enterprises are allowed to exist but the rule makers will grow and take a bigger cut.
Never fear. Don’t fret. Biden’s budget won’t impact that many businesses. Those businesses will not exist in October when the budget goes into effect.
Those businesses will not exist in October when the budget goes into effect.
When has a President's budget ever passed? This is empty virtue-signaling from Brandon, nothing more.
Democrats operation dismantle in progress
Any other answer than "sucks to be you" better be backed up with convincing evidence. Corporations consider taxes to be part of the "cost of doing business". Like all other costs, that amount gets factored into the prices charged by the corporation. Ditto successful businesses that are not incorporated that gross more than $400K per year.
So it's a safe bet that the proposed tax increases WILL affect every single person, including people below the poverty line.
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