Infrastructure Week: Joe Biden Announces Plan Including Massive Tax Hikes
Hide your wallets, because Joe Biden is announcing his infrastructure plan this week. Two trillion dollars over ten years. CNN is calling it a "window into Biden's soul" and says "unchained capitalism has seemed so threatened." That should tell you all you need to know, but please read on anyway.
Unlike Joe Biden's stimulus plan — the one that polled well because American's didn't realize their $1,400 checks were actually costing them over five grand — instead of exploding the deficit, Biden plans to fund this with massive tax increases. His "Made in America" tax plan. Where increasing taxes on people who create the jobs is going to help the government create jobs instead.
- Increasing corporate taxes from 21% to 28% after Donald Trump lowered them to 21%. Donald Trump lowered taxes, creating the greatest job numbers of our lives. Joe Biden is going to raise taxes to create government jobs. What happens to the other jobs created thanks to the tax cut is unclear. Though anyone who isn't half an imbecile can guess.
- Discouraging firms from listing tax havens as their addresses, which will be interesting to accomplish after a tax hike makes it an enticing thing to do.
- Increasing the individual tax rate to $400,000. Though that's if you file jointly. Theoretically, the tax hike could hit individuals making at least $200,000.
Thankfully missing from the plan is the idea of a mileage tax. That trial balloon popped in mid-flight as soon as the Biden administration floated it. But the fact that the idea is even in their heads is angering enough.
I anticipate the plan will poll well among Americans. Plans that cost a lot of money that you're told other people are stuck paying for tend to be popular. It won't be until after the bill is signed into law — once goods and services are made more expensive, work hours are cut, and non-government jobs are lost — when people realize how much Biden's latest scheme actually costs.
EXCLUSIVE FOOTAGE! Biden Prepares for First Press Conference! | Louder With Crowder youtu.be
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