Yup, he’s the first President in the last 5 or so decades to have decided to increase the taxes in the States!
Well, we didn’t say it was a good thing – but at least he’s first at something!
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Jen Psaki, the Press Secretary of the White House made clear that the plan Joe Biden has proposed regarding taxes, will definitely increase the federal income taxes on people that make over $400,000 a year, but that figure could include also couples that make that amount total.
This will affect far more people than was originally planned.
And the very cause and purpose of the initially imagined tax plan will be lost if you ask me…
It would be a direct attack on the upper-middle class.
If you make under $400,000, you will not pay a penny more in taxes when I'm president.
The super-wealthy and big corporations will finally pay their fair share — and we'll invest that money in working families.
We're going to reward work — not wealth.
— Joe Biden (@JoeBiden) September 17, 2020
And according to Business Insider, “The most interesting aspect of this group is that some of them were responsible for Biden’s victory in the first place. Biden’s improvement among the educated, white upper-middle-class compared to 2016 Democratic nominee Hillary Clinton helped him win key swing states.”
“The goal of Biden’s tax plan is to repeal certain aspects of the Republican-led Tax Cuts and Jobs Act of 2017, and raising the income tax and raising the corporate tax rate would certainly do that.”
This would be yet another job-killing move we are seeing from Biden’s administration.
President Biden shouldn’t try to ram through massive tax spending increases that crush #AmericanWorkers.
I stand opposed. He should be forced to make his case & allow Republicans to offer amendments.
Nancy Pelosi’s closed-door jamming of their big government agenda must end. pic.twitter.com/7NfGYtz3wk
— Rep. Nancy Mace (@RepNancyMace) March 19, 2021
To be more exact, according to a report published by the Tax Foundation, approximately 159,000 jobs could be lost, long-term speaking, just because of this proposed new tax plan.
Why?
Simply, because (private) businesses would have to deal with further financial issues and burdens.
