“With more than 40 separate tax increases, collectively worth $2 trillion, it would be the largest package of tax increases in decades.”
These tax hikes mean fewer jobs created in the U.S., shrinking paychecks, and even higher costs for every day goods. Why do Senate Democrats support job-killing tax hikes that put U.S. families and job creators at a disadvantage?
Less than a third of all Americans will benefit from Democrats’ tax plans, with more than two thirds either experiencing no benefit or facing immediate tax hikes. The middle class and small businesses in particular will be getting very little—except for more taxes.
The Democrat tax scheme funnels money to their wealthy friends and elites by raising taxes on working families and job creators.
New legislation would radically raise taxes to the highest corporate tax rates in the industrial earth and yet still not pay for all of the new spending they're talking about. So, while deficits grow forever, opportunities shrink.
"There are so many controversial changes being crammed into one mega-bill that it must be a deliberate strategy: Try to achieve everything the far left has wanted for 20 years in one fell swoop before the country has time to realize what hit it."
One thing is certain, these new taxes do not only impact the rich. In fact, liberals would like to give the wealthy in high-tax states like New York and California a tax cut as part of the plan!
Democrats have also floated retroactive tax increases on the American people.
Back in 2014, I shared some data from the Tax Foundation that measured the degree to which various developed nations punished high-income earners. This measure of relative “progressivity” focused on personal income taxes. And that’s important because that levy often is the most onerous for highly productive residents of a nation. But there are other … Continue reading Which Country Punishes Productive People the Most?