Good day all. Dementia Joe and the Democratic CommuNazis are wasting no time in their plans to repress and oppress the American People. He’s already announced his intention to confiscate firearms and end the 2nd Amendment. Now he is talking about massive tax hikes to destroy the American middle class once and for all.
Dementia Joe, when he isn’t fondling adolescent girls and sniffing their hair, is always on the lookout to confiscate the money of working Americans. He’s announced his plans for massive tax increases, allegedly on “The Rich,” however we know who they will really hit. Here are the details from Fox News:
President-elect Joe Biden suggested this week that he supports returning individual and corporate tax rates to George W. Bush-era highs even though his economic agenda likely hinges on the outcome of two Georgia runoff elections in January.
During an interview with The New York Times, Biden said one of his top priorities even before he enters the White House on Jan. 20 is getting a generous coronavirus relief package through Congress. Doing so will help generate economic growth without long-term fiscal harm in the future, he said, so long as “everybody pays their fair share for God’s sake.”
“And by that fair share, I mean there’s no reason why the top tax rate shouldn’t be 39.6 percent, which it was in the beginning of the Bush administration,” Biden said. “There’s no reason why 91 Fortune 500 companies should be paying zero in taxes.”
Perhaps the senile pedophile has forgotten what helped him and The Great Mistake get into office. It was the economy crashing and burning in 2008, and the incompetent idiot John McStain throwing away the election. Of course, rather then fix the issues, you and Der Fubar gave us 8 years of stagnation end economic failure.
The nation’s highest marginal income rate was 39.6% for Americans earning at least $374,000 before Bush made a series of tax cuts in 2001 and 2003 — known as the Bush Tax Cuts – slashing the top rate to 35% for high earners. Those cuts remained in place until 2013 when the changes to the tax code sunsetted.
Bush was a mediocre president at best. He’s certainly not someone who should be used as an example.
At the time, as the economy recovered from the 2008 financial crisis, Congress and President Barack Obama chose to keep the individual tax rate at 39.6%.
Because it isn’t the taxpayer’s money, it’s the Democrats government’s money. The taxpayers exist for one reason. To [pay tribute to the Deep State uniparty. We all saw how those tax rates affected the economy, it sent it right into the crapper and kept it there for 8 years, until the election of the Greatest President of the 21st Century, Donald J. Trump. (He of the 3% unemployment rate)
Biden has repeatedly pledged to roll back that law and restore the corporate tax rate to 28% and raise the top income rate to 39.6% — with a caveat that taxes won’t rise on any American earning less than $400,000.
“I will raise taxes for anybody making over $400,000,” Biden promised during his campaign. “Let me tell you why I’m going to do it. It’s about time they start paying a fair share of the economic responsibility we have. The very wealthy should pay a fair share – corporations should pay a fair share.”
And here we have the usual mantra of the Socialist. It’s not fair so we will take what you earned away from you, because that’s only fair. That’s the problem with Progressives. They deal in what they think is fair, not in reality. Here is a little reality for that corrupt pedophile. The tax cuts that President Trump instituted benefited the middle class and working Americans. It did NOT benefit “The Rich.” They actually pay more in taxes, especially in high tax states like New York and Kalifornistan. Why? Because the tax law ended the deduction for home mortgages and state income taxes above a certain level. That level was way above what most Americans make.
“When Biden says he will raise taxes on only those earning over $400,000, he is saying his tax law will target only those high-income taxpayers,” LaJoie wrote. “Economists, however, trace the economic impact of these taxes past the person writing the check.”
For instance, hiking taxes on corporations tends to adversely hurt workers in the form of lower wages, according to the Tax Foundation, a center-right think tank based in Washington, D.C.
Corporations do not pay taxes, they pass them along to their customers. This is well known and ignored by the Socialists and Communists like Comrade Bernie Sanders and Dementia Joe Biden. They have no understanding of how the economy works since they have never held a real job in their lives. All they’ve done is keep their snouts deep into the taxpayer trough. (When they aren’t taking payoffs from countries hostile to the United States through their son)
Still, the Constitution ultimately gives Congress the power to set tax policy, so Biden’s economic agenda depends on whether Democratic candidates Raphael Warnock and Jon Ossoff win their respective races against Georgia Sens. Kelly Loeffler and David Perdue on Jan. 5.
And you can count on the Democratic CommuNazis doing everything they can to rig that election too. If they get their way, we are going to see a full blown economic collapse rivaling the Great Depression. Add to that Dementia Joe’s plans to basically confiscate the 401K and IRA accounts that Americans have been investing in for decades, and it won’t surprise me to see the unemployment rate hit 50% plus in a couple of years.
Thatisall
(1 votes, average: 5.00 out of 5)
Loading...
~The Angry Webmaster~
