Well ... we all saw it coming. Socialism can't pay for itself. It has to come out of the pockets of the Working Class. Socialism is a blood-sucking ideology. It MUST be propped up by unwilling participants. So, in an already fragile economy, we can expect tougher times ahead If the Pedophile In Chief gets his way.
High corporate taxes hurt workers. As much as 100% of the tax cost is passed on to workers in the form of lower wages.
Raising the capital gains rate much higher than it already is could decrease—rather than increase—tax revenues.
Biden’s Proposed Tax Increases Would Be Largest Since LBJ’s in 1968
KEY TAKEAWAYS
Biden’s proposed tax hike could amount to as much as a $2 trillion tax increase, the largest increase since 1968.High corporate taxes hurt workers. As much as 100% of the tax cost is passed on to workers in the form of lower wages.
Raising the capital gains rate much higher than it already is could decrease—rather than increase—tax revenues.
Biden’s Proposed Tax Increases Would Be Largest Since LBJ’s in 1968
Faithful to his campaign promises, President Joe Biden is eyeing steep tax hikes, but despite the claim that the tax increases will hit only the wealthy, they have the potential to slow the pandemic recovery for every American and make workers less competitive. Biden’s proposed tax hike could...
www.heritage.org
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