Biden lies about his tax hikes

 Washington Examiner:

President Joe Biden insisted again and again he would only hike taxes on individuals earning over $400,000. He never meant it. He’s just hoping the middle class and the news media won’t notice the tax hikes if he hides them well enough.

Biden always had tax-hike plans for the middle class, just certain middle-class families. During the campaign, Biden supported a $200 registration tax on new firearms and a drastic overhaul of retirement accounts that would amount to a tax hike on folks earning over $80,250.

Biden could wiggle out of those, saying, “It depends on what the meaning of ‘tax hike’ is.” But he keeps adding new middle-class tax hikes to his agenda in order to pay for his boatloads of free money and a massive expansion of the federal government. Still, Biden is trying to hide them.

Hiking the corporate tax rate is a perfect example. Congress and President Donald Trump, with the Tax Cuts and Jobs Act, brought our corporate tax rate down to the globally competitive 21%, on par with the average of wealthy nations. Biden wants to increase it back to 28% and tack on a minimum 15% tax on the book income of large corporations, effectively disallowing many deductions.

Add in the state income taxes, and you’ll have most U.S. corporations facing the highest of any nation in the Organization for Economic Cooperation and Development and the G-7.

Of course, corporations don’t actually pay taxes. They collect taxes. Taxing a corporation is always taxing people, and those people are the customers, shareholders, and employees.

The Tax Foundation estimates that Biden’s corporate tax hike would slash 159,000 jobs and that an average 0.7% wage reduction would harm the bottom quintile of workers, who would see a 1.45% decrease in after-tax income. Prices would likely go up, and retirement accounts would be smaller than otherwise.

That’s a middle-class tax hike.


Biden is an example of government greed.  He wants other people's money so he can give some of it to his supporters. 


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