Joe Biden is planning to give Americans one of the largest tax hikes in American history to take more money from the American people who he has brought to an unprecedented level of economic despair.
The Tax Cuts and Jobs Act is set to expire in 2025 and Biden has no plans to renew it or even replace it with something of his own.
Biden tweeted out, “Donald Trump was very proud of his $2 trillion tax cut that overwhelmingly benefited the wealthy and biggest corporations and exploded the federal debt. The tax cut is going to expire. If I’m reelected, it’s going to stay expired.”
Apparently Biden and his team think it’s a good idea to promote their plans to collect more taxes at a time when American’s wallets are hurting more than ever – because obviously, the federal government needs that money to send to Ukraine and fly more illegal aliens into America!
Moreover, Joe’s framing of the Trump-era tax cuts is just flat-out dishonest.
As a percentage of income, Trump’s tax cuts actually benefited the MIDDLE CLASS the most. You know, the same middle-class Biden has been trying to crush since the very first day of his presidency.
An analysis of IRS tax data which includes the effects of tax credits made available by Trump’s policy showed that Americans with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16% to 26% in 2018 – they first year the policy went into effect.
Those who earned $50,000 to $100,000 received a tax break of about 15% to 17% and those earning $100,000 to $500,000 in AGI saw their personal income taxes cut by around 11% to 13%.
When compared with the ultra-wealthy which Joe Biden and the Democrats often love to demonize, it’s obvious that Trump’s cuts helped everyone – but helped middle class Americans the most.
No income group with an AGI of at least $500,000 received an average tax cut exceeding 9% and the average tax cut for brackets starting at $1 million was less than 6%.
This means the vast majority of America, the middle-income working class, enjoyed a tax cut that was AT LEAST double that which the wealthy received – despite would Biden and co. would have you believe.
Democrats have been itching to get rid of these tax cuts from the moment they took effect because as we all know, their communist version of America required people to hand over the majority of their earnings to the federal government and in their eyes these cuts were a step in the wrong direction.
Then-House Minority Leader Nancy Pelosi warned that Tax Cuts and Jobs Act would bring about “Armageddon” while calling it “one of the worst bills in the history of the United States Congress.”
Unhinged left-wing economist Bruce Bartlett said on MSNBC the tax cuts were “really akin to rape” of the poor which doesn’t even make sense considering it actually let the poorest Americans keep MORE of their money
As for the bill’s impact on the economy, well that couldn’t be clearer either. After it passed in late 2017, the 2018 GDP increased 3.1% compared to 2.5% the previous year.
While American working-class are feeling the crushing weight of Bidenflation making it insanely difficult for them to simply feed their families, Joe is looking to make things WORSE by reaching deeper in to their pockets for the sake of having more tax dollars to spend on funding foreign wars or rewarding foreign invaders coming to America.
Biden is effectively saying to the American people that if he is allowed to remain in office, things are going to get MUCH WORSE for the middle class – and he’s proud of that.
The GOAL of this Administration and the Democratic Party is to force the American public to become more Government dependent and they are succeeding . They will continue on this course to become a more Socialist Government
for all the dingbats that still think this is ther grandpas dem party and continue voting for these commies i say they are going to get what they deserve,higher taxes/ less freedoms /higher gas /more inflation /more indoctrination /higher crime / less backing for law enforcement and veterans / now…on the flip side…all the ILLEGALS will be well taken care of with our tax dollars…TRUMP IS LOOKING BETTER EVERY DAY.
He is a complete failure at his job and should be removed NOW! Keeping him in office will destroy all families that cannot afford more taxes! Of course with his wealth and freebies galore, he really doesn’t care about those barely making ends meet! So sad that he was ever elected to be our president!
I beg to differ with you, but JB was not voted in. The election was stolen with the help of police departments in blue states as well as other Demoncrats. Unfortunately, those of us who are from red states have to suffer.
Biden is a communist and an evil person. We need to impeach him and put him in jail for treason
Totally agree. If any one of us took money from our enemies like he and his family have we would be in prison for treason only difference is we don’t have access to top secret documents of our government to sell to our enemies.
Biden and the Marxist/Democrats have attacked our democracy for years. They are only interested in Power and money for themselves. They are actively destroying our democracy and should be arrested as traitors. They attack our freedoms of Speech, Religion and especially our 2nd Amendment rights. They are actively brainwashing our children and military with CRT/Dei Marxist rhetoric and LGBQT agenda meant to destroy the family unit and divide us. They lie, cheat and steal and use Climate Crisis, Race and any crises as tools to destroy our nation. They have destroyed our energy independence, opened our borders to crime, drugs and terrorist and gangs. They spend our taxpayer dollars on free food, education, housing, healthcare, lawyers, transportation and other social services effectively aiding and abetting millions of illegal immigrants. We already owe more than 27 trillion in debt. We already have millions of homeless. We already have a shortage of food and water. We already have rising prices in gas and electricity and water. What do you think this does to us when you add millions of people to our country? More shortages and higher prices!!!
BALLS TO THE WALLS FOLKS—BALLS TO THE WALLS
Biden himself declared the other day at a campus in North Carolina ,with his mental condition that he denies he has, when he said by mistake that “we can’t be trusted”. The incompetent infidel needs to flown over a communist cartel run country, and strap a parachute on him then toss him out of the plane.
No parachute!
No parachute does sound better.!!!!! Since day one of him crawling into office at the white house he immediately started tiring down every good thing Trump had in place that was helping the true American people. Right their should of told everybody what kind of president he was going to be. The border was one of the first Biden throw it wide open and does not want it to be closed that right their makes me know he is a evil man with evil intentions toward every American citizen. This letting in all these criminals with their drugs and evil ways is to kill off true American family’s. Therefore know one in there right mind would vote for this crawl-in president again. Those who would for this Biden and his administration of cronies are not true Americans.** His illegals are being make able to vote ** this is against our constitution and should not be aloud but the crooked Biden administration goes against our constitution on everything another reason not to vote for him. These democrats are the lieingest bunch of dirty politics ever. And Biden is going after Christians another reason to not vote for him. He also is destroying our infrastructure and everything esle they touch please vote these animals out.
we need to get this info to the dems that don’t pay attention to these sites. They have no idea what Biden is really like and the evil plans he has for us Americans. Perhaps millions of fliers dropped from a plane??????
If China attacks us, I’m sure Biden thinks he and his family will be safe. Won’t he be surprises if he is the first attacked with China laughing at how stupid he was to trus them.
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This person can’t be trusted. He even said that. My Goodness, does this man have no shame, no moral compass? I’ve never considered JB to be the POTUS because he can’t do his job. Americans deserve better. I’m not afraid to say what I think but in my heart, I can say I feel sorry for him. Someone, please help this man to retire. Nothing good will come our way if we continue down this road. I’m not sure if JB knows how much most Americans dislike him but he needs to know for sure. At the end of the day, nothing good is accomplished for the lives of all legal Americans. Maybe it is time to go, Joe!