In 2016, Hillary Clinton ran for president proposing $1 trillion in tax increases. Would President Trump’s blue-collar boom ever have gotten off the ground with such a back-breaking tax burden?
But now, four years later, former vice president Joe Biden thinks he has a better idea. In his third run for the White House, Biden is proposing tax increases of nearly $4 trillion over the next 10 years. If he wins in November and these increases were to pass, they’d be the highest in American history — indeed, in world history.
President Trump’s 2017 tax reform cut taxes for corporations, small businesses, blue-collar workers and the middle class. Since the 2016 election, employers have added 7 million new jobs and, until the COVID-19 pandemic this spring, Trump’s tax reform package created an economy that produced the lowest unemployment in American history for Blacks, Hispanics and Asians, along with increases in wages and middle-class incomes.
Are Biden’s proposed tax increases what America needs while our economy is still mired in the coronavirus downturn, and now beset by anti-police protests? What will happen to jobs under that farsighted “leadership”? How long until America’s economy could return to where it was at the beginning of 2020?
Biden proposes an outright repeal of Trump’s tax reform package, raising taxes on the middle class, blue-collar families and American corporations, large and small. Such tax increases would return America’s corporate tax rate to close to 40 percent, the highest in the world.
At the start of the Great Depression in 1929, President Hoover’s tax increases to balance the budget in a collapsing economy caused America to suffer 25 percent unemployment for more than 10 years. Is that what Americans want again?
And Biden also proposes to raise the capital gains tax to 40 percent, doubling it from today’s rate. We know from experience that would dramatically reduce tax revenues from that source and slash investment returns for all Americans.
read more here: https://thehill.com/opinion/white-house/504536-bidens-record-setting-tax-increases-will-take-your-money-and-your-job
Replies
all I can say is he is a fool.
That's exactly why Trump will win in a landslide in November. In his foresight he pushed to open the economy that is roaring back now. The stock market has rebounded and is up for the year. It will make new highs by the time November rolls around as the economy improves more and more. We'll be back to a roaring economy like we had before when Trump took charge of it. This will balance the budget as well, just like Trump promised.
Why do you need money or a job... In a communist state, you are the dependent of the State... everything is free... transport, food, government uniforms with little red stars on your hat, music, literature, news, medical care, free university-level education, when these items are available... the problem is that they are never available in quantities needed for everyone to participate in nirvana.
In exchange for all this, you live in a 10 x12 room with 6 others... Don't worry though they have rotating schedules for the bed. You will get the government guarantee of 2hrs a night, and since there is no heat, they throw in an extra-large hot water bottle... when hot water is available... to keep you warm while you sleep... that is if the bed bugs don't bite.
Yes, and that's not all you get... your government guarantees you at least one meal a day and with it untold intestinal problems...
Finally, the crowning glory is a Guaranteed Government Job... with expanding opportunities, picking up dead bodies in the streets... and to ensure you remain healthy, the state will put you on a waiting list for public health and gives you a free clothing ration card...guaranteed good when printed ... but you have to be quick, to get those new nickers, as it expires 30 min. after being issued. Oh, I almost forgot... you get a new title with all this free stuff... when your fellow communist wants to address you it's now... COMRADE... this and comrade that. No more of that gender nonsense.
Ronald, I don't think this was supposed to be funny, but your comment "....you have to be quick to get those new nickers as it expires 30 minutes after being issued" cracked me up because it was so to the point. Very well done. I'd love to print this out if I may.
You may copy, print, or otherwise use any of my posts with a byline... and I was attempting to be funny while conveying core truth about Communism. You may now laugh comrade Bruno...lol
LOL 2x.
The Biden America: DO AS I SAY. NO THINKING. NO INDIVIDUALITY. NO JOB UNLESS YOU ARE AN ILLEGAL OR A MINORITY. NO CONSTITUTION. NO GUNS. NO GOD. TONS OF TAXES IF YOU ARE LUCKY ENOUGH TO WORK. HAPPY YET. OH WAIT. SCHOOLS: YOU WILL BE TOLD WHAT TO THINK, LEARN, SPEAK, AND NOT TO QUESTION THE MARXISTS TEACHINGS. AMERICA WILL BE A DREAM .
Had enough oh wai there is more. DID YOU LIKE ORWELLS 1984 WELL WELCOME TO IT. SURVEILLANCE; SURVEILLANCE AND MORE OF SAME. YOUR PROPERTY GONE; YOUR LIFE GONE; THE MONEY YOU MAKE GONE. YOUR HOME GONE. HAPPY YET .
Oh sure I know it won't happen LOOK AT THE BLUE STATES NOW THIS IS WHAT THEY WANT ORWELLS 1984 AND IF WE DO NOT STOP IT WE ARE THERE.
Agree 10000%. 2 Timothy Ch 3 followed by Revelations.... unfolding before our eyes