Told ya so: Biden plans to raise our taxes by $5 trillion
Jan. 18, 2024, a WND columnist stated, "Biden's White House has explained that the problem is not all the insane spending, but rather, the problem is those bad old 'Republican tax cuts.' So, with more Bidenomics, expect your taxes to increase." Starting with history, let's see where we are today. One of the reasons for…
The post Told ya so: Biden plans to raise our taxes by $5 trillion appeared first on WND.
Jan. 18, 2024, a WND columnist stated, "Biden's White House has explained that the problem is not all the insane spending, but rather, the problem is those bad old 'Republican tax cuts.' So, with more Bidenomics, expect your taxes to increase."
Starting with history, let's see where we are today.
One of the reasons for the Revolutionary War was the problem summarized in cry "no taxation without representation." There was the 1764 Sugar Tax (taxing sugar, molasses, coffee and cloth), the 1765 Stamp Act (taxing newspaper, documents, playing cards, dice and all printed materials) and the 1767 Townshend Acts (taxes on tea, glass, paint, lead and paper). Obviously, there was more that prompted the war with the British tyrant, but unfair taxes were some of the reasons for declaring war on the monarchy.
Presently, Americans pay sales tax, income tax, property tax, auto license, trailer tax, camper tax, labor tax, environmental services tax, gas tax, gift tax, death tax, dog tax and many others. Remember, Benjamin Franklin is credited with saying, "In this world, nothing is certain except death and taxes." The "labor tax" you might not even realize you're paying, but as of March 1, 2016, North Carolinians are paying a tax on everything from car repair, to plumbers, to electricians, to heating and AC repair. North Carolina sales tax is 6.75%, as is the labor tax. Additionally, there are taxes on items one purchases that are being replaced. Believe it or not, purchasing an old auto part from a junkyard, I paid the sales tax, plus an environmental charge tax and a service fee tax, which brought the total tax to 18.5%.
So, what is the future plan of Joe Biden, the 81-year-old, 52-year politician, a dyed-in-the-wool Democrat, a lying leach on society, who's never had a real job in his life? It's to raise taxes, of course, as predicted Jan. 18, 2024, on WND!
Former President Trump and Republicans are saying that Biden's budget plan for fiscal year 2025 is the "largest tax hike ever." Fox News reports that according to the House Budget Committee, the "tax increase is part of Biden's $7.3 trillion budget plan for fiscal year 2025, which includes a $4.9 trillion tax hike and calls for an 'unprecedented $86.6 trillion in spending' over ten years." In addition, Democrat Biden's budget plan would result in the "largest debt in American history," $54 trillion by 2034.
A spokesperson for the Trump campaign stated that Biden's plan "would take nearly $40,000 dollars away from the average American family, who is already losing thousands every year due to Biden's record-high inflation crisis."
Democrat Biden's budget is termed "bloated" and "defined by massive spending increases."
You would think that maybe Biden is trying to pay down the deficit, but according to the Manhattan Institute, "All these historic, revenue-maximizing taxes would barely cut the deficit" for most of it "goes to more spending" on "new entitlement expansions."
"Entitlement" means that only certain groups will benefit from the president's reckless spending. It is like Biden has determined to sink the ship and make sure he oversees the life-jacket distribution.
Of course, there are numerous tax increases on corporations as well, including "a small business tax hike, a corporate tax hike, a capital gains and dividends tax hike, income tax hikes, energy tax hikes, and even a second death tax on top of the first one."
The Tax Foundation states, "The higher taxes laid out in Biden's plan would reduce economic output by 2.2% in the long run, slash wages by 1.6% and kill about 788,000 full-time equivalent jobs." These are real jobs losses, not like Biden's job loss reports that are offset by illegal immigration hires. Do you realize that illegal immigrants are taking away jobs from American taxpaying citizens, yet Democrat Biden thinks this is good?
In 2017 Republican Trump signed into law major tax cuts. They're set to expire in 2025. Trump says he'll make them permanent if re-elected.
Democrat Biden's taxing rampage "promises to increase the tax on Subchapter S corporations, partnerships, and all 'pass through' businesses, most of them small businesses, to 39.6%."
Biden's budget plan "promises to increase the federal capital gains tax to 44.6%, the highest rate in 100 years."
Democrat "Biden is already using 'trickle down taxation' to hit more and more Americans with his stock tax." He has signed into law a tax burden that hits Americans with 401(k), IRAs, or union pensions. "Not even China has such a tax."
Reuters reports that Democrat Biden's plan "also calls for an additional $104.3 billion in mandatory funding for the Internal Revenue Service on top of the $80 billion won by the tax agency in 2022."
In the 1980s, Ronald Regan labeled Democrats "tax and spend." Well, in 2020s, Democrats and RINOs are "spend and tax," except it's more properly said, "insanely spend and insanely tax." They have an addiction to spending the working citizen's wages for their pet projects, many times receiving kickbacks; a simple case of the rich get richer, and the working citizens get poorer.
Instead of "life, liberty and the pursuit of happiness," progressive Democrats and RINOs read the Declaration of Independence to say, "abortion, enslavement and the pursuit of taxes."
If you enjoy paying taxes, if you want to pay even more taxes, if you enjoy seeing politicians give your tax money to foreign governments with which we don't even have a treaty, if you enjoy working and making money to benefit Democrats and their friends, yet not your own hardworking family, then Biden is the man for you in 2024.
Don't forget to wave as Democrat Tyrant Biden drives by in his gas powered "Beast" limousine.
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