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By Calling for $4.7 Trillion in New Taxes, Does President Biden Even Know His Economic Agenda Is Failing?

Posted on Friday, March 10, 2023
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by Outside Contributor
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43 Comments
middle-class

WASHINGTON, DC – House Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement after President Biden released his Fiscal Year 2024 budget that raises taxes on small businesses, ignores imminent Medicare cuts, and hands even more money to the IRS:

“Does President Biden even know his policies created the worst inflation crisis in 41 years? His budget doubles down on the same economic plan that both led to the current debt crisis and helped spike prices to record highs. Even now, he is asking American families, job creators, farmers and workers to hand over an additional $4.7 trillion in taxes – over $1.6 trillion of which is specifically on small businesses. All the while he hands the IRS an additional $43 billion after supercharging them with 87,000 new agents to go after working families. The President’s new budget will worsen all the crises facing the American people. Working Americans have already told the Ways and Means Committee during our field hearings outside of Washington about life in Biden’s economy – the new taxes in this Budget will make it harder for them to put food on the table, clothes on their backs, and gasoline in their cars. An expanded death tax continues the pattern of Democrats treating family farms like piggy banks for their Green New Deal welfare for the wealthy. Already struggling mom-and-pop businesses will be hit by the new small business surtax.

“Despite the fact the IRS is weeks late in telling Congress how it will spend its $80 billion pay raise to increase audits on working-class families, Biden goes even further to supercharge the agency with another $43 billion. President Biden even calls to install the Left’s woke agenda and radical environmental activism into the Treasury Department, instead of fixing the IRS’s atrocious customer service. The President’s socialist drug pricing scheme will leave patients with fewer new cures in order to pay for more reckless spending. And as a consequence of Democrats’ spending, Medicare faces more than $500 billion in cuts over the next decade, which President Biden sweeps under the rug in favor of taxes on small businesses, bonafide budget gimmicks, and endangering seniors’ access to care with zero accountability.

“American families and small businesses are struggling in this economy, and President Biden wants them to send Washington a bigger check.”

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Terry Swartz
Terry Swartz
1 year ago

This administration is destroying our country. It’s very hard to watch.

Woody
Woody
1 year ago

Biden has been taking Chinese $$ for so long
he’s obligated to put the screws to Americans !

DJ Wright
DJ Wright
1 year ago

As a retiree, I was able to drive for Uber to make a little extra to cover our expenses, but with high gas prices, runaway inflation, and now a new Biden gig tax on small business, it makes no sense.

David Millikan
David Millikan
1 year ago

DICTATOR Beijing biden is increasing taxes and killing President Trumps tax cuts so he can Steal OUR money to give Federal Employees a 5.6% Raise.
This will make at least 5 raises for them since 1-20-21.
YOUR MONEY is paying government employees more while YOU have LESS to make the government bigger leaving you with nothing while INFLATION continues to increase along with everything else.
Even his budget amount increase for the military doesn’t make up for what he cut in 2021 and 2022 while Communist China increases theirs more.
A 90% INCREASE in TAXES to make the government BIGGER and YOU
POORER.
I warned you about this a few months ago and here he is RAISING TAXES just like I said he would.
I guarantee you that over 95% of his budget goes to making the government bigger and does NOTHING for the United States and American people.
Read his budget plan and see for yourself.

Rik
Rik
1 year ago

Jackass Joe Biden is doubling down on his failed budget programs like a drunk alcoholic! . . . He’s too stupid or he just doesn’t care about how much damage he is inflicting on the American people/economy as he tries to make America into a third world nation! He should be brought up on charges of TREASON!

Butch
Butch
1 year ago

Pure weaponized INSANITY!

Gary
Gary
1 year ago

He’s doing everything he can to destroy the American economy before him and his democratic thugs are voted out of office. This is a major crime against our nation and needs to be investigated and stopped.

CoNMTX
CoNMTX
1 year ago

All his policies are supposed to fail. It’s part of the globalist (WEF) plan to destroy America and build back socialist. Of course, Loopy Joe is about to the point where he will have to be told what day it is. His alzheimers (or whatever) is about to have lunch on the few remaining brain cells he has left. It’s difficult to tell though since he has always been somewhat stupid his entire career as a professional liar and politician.

Robert Zuccaro
Robert Zuccaro
1 year ago

I’m paying $2 over the national average per gallon of gas and twice as much for groceries so you don’t have to tell me his economic plan is a failure. And what is the Nevada State legislature voting on? Getting rid of florescent bulbs and its own Green New Deal…

Jeanette
Jeanette
1 year ago

I knew when he was named to take office that it was the beginning of the end for Freedom unless Congress could turn it all back to what we had under D Trump. But we have a bunch of Reps in DC that are on the side of Socialism that would attempt to prevent it from happening..Still I pray to God every day that we will once again see our Republic rebound.

Jackie
Jackie
1 year ago

More importantly, does Joe have a clue about anything?? He has his wife and many others who whispers in his ear about what he is supposed to say, think, do and be but they are all wrong!!! They are ignoring the American middle class and poor!! They are on an agenda to socialism!!

Everyday, when I have to buy groceries or gas or just about anything else, I am reminded what a failure this administration is!!! I am frustrated that we still have another two years of Biden signing executive orders to get his agenda through and I am tired of President’s who rule by executive orders!! Congress is supposed to pass laws and give out the money but anymore it seems that Congress is constantly bypassed by Presidents who think they can continue to sign executive orders to get their way!!

And I know that Joe thinks he is some kind of genius but all he needs to do is look around to see that his administration is full of failures!!! Those close to him are keeping him unaware of our reality!!

Denise
Denise
1 year ago

Joe is not doing this alone. Don’t forget who he was vice president to for 8 wretched years, the “president” who claimed “I’m going to fundamentally change America” and the sheep cheered. The president who opined “There comes a time in a man’s life when he’s made enough money.” Now the owner of 3 multi-million dollar mansions one on Martha’s Vineyard. Also seen “visiting” the White House on several occasions…don’t think he was there to inquire about Joe’s health. There is nothing happening by accident; Biden is a puppet doing what he’s told. This previous “president” has been seen on several occasions visiting the Oval Office…and one can be sure they weren’t social visits! Biden is probably incapable at this point of even brushing his teeth without being told.

Theresa Coughlin
Theresa Coughlin
1 year ago

Biden knows his economic agenda is failing. He just DOESN’T CARE!

Denise
Denise
1 year ago

P.S. no doubt this previous ‘president’ is himself bought and paid for and doing his present master’s bidding.

GTPatriot
GTPatriot
1 year ago

All of this is due to the simple fact that we voted for Biden in 2020 and now we are shocked ?
We got and are getting what we deserve. We got the govt we voted for. We, the voters, are the
problem. Joe Biden isn’t.
So while we go through the next 2 years pretending that there is a democrat vs republican
presidential race, we know now, today, what, we can expect. Vote dem and we will get
more of the same or make a change. Its so simple yet the media makes it seem complex.
We’re stuck until we vote differently. We really don’t need to read this bs every day. A’int
nothing changing until Nov 2024.

William Angelli
William Angelli
1 year ago

I never voted for jerk off Biden. He didn’t win. They cheated.

Leonard
Leonard
1 year ago

If the 43 billion for the irs makes it thru Congress and does not get shut down then there the problem

Lloyd Richmond
Lloyd Richmond
1 year ago

Forrest Gump’s mom gave good counsel: “Stupid is as Stupid Does.”

Steve
Steve
1 year ago

Stolen elections have consequences

Barbara Sehorn
Barbara Sehorn
1 year ago

Thank you so much, Rep. Smith for drawing attention to the outlandish effects this administration has brought on this country.

Tom
Tom
1 year ago

Billions for IRS???? Come on people!!! That bread is going somewhere !!! China,Iran or even Russia. Trace our wars and the dems are in office then as now We are paying our enemy to fight us then rebuild what is destroyed here and there. Then a nice slice goes to the Cayman Islands for Joe and Hunter. Just one point!!! Joe can’t get to the bathroom without help which hurts many people his age. Joe like us is a victim being used by the traitors to America. He is lead around by his nose and we are lead around by our empty wallets.Joe is a no body for over 50 years in office. Two years and suffering!!! America first foremost and always!!!!’Donald are you ready?????

Jeffry Earl
Jeffry Earl
1 year ago

Even if he does know it’s failing he doesn’t carr!

Michael
Michael
1 year ago

So when are our law enforcement or military who swore an oath to defend our Constitution and our nation against all enemies both foreign and domestic i.e the illegitimate biden fraudministration, going to actually protect us?

Al V
Al V
1 year ago

Democrats use the tactic of asking for and spending extreme amounts of money because it makes it impossible to trace and audit.

Ray
Ray
1 year ago

This is a communist government move! Woke Joe and his son are getting millions from China !

Don
Don
1 year ago

The guy is a lunatic!

Robbie Eures
Robbie Eures
1 year ago

I read through the comments and have to say that all of our intentions r for good, true Americans. Our problem comes down to one thing, we never get across to the other side. The only hope I see happening, that will make a change, is inflation. When ppl keep losing savings, etc they will open their eyes and I hope NEVER vote for a democrat or RINO again

Larry
Larry
1 year ago

It is important that everyone that agrees with the statement Jason Smith put out that you become involved. Do much more than show up to vote. That is just table stakes. Find out when

Tom
Tom
1 year ago

Biden is being told what is happening and believes every problem is Trump’s four years. Jupiter is smaller than our moonYou bet !! Trump did it and many people are ignorant enough to believe it. They like the free money and “gifts” but don’t realize the cost which is their freedom..Trump forever!!!

Tom
Tom
1 year ago

I may get an FBI visit for this but here goes. I look for Biden to start wearing dark glasses and staying away from reporters and the public. Biden May have a double yes a double to take his place. Hillary had a double that was shocking in appearance to exact image.Biden is done and if you watch he is led around by taking someone’s arm. As for Obama and the games he plays, haven’t we had enough.1962 Krouchev said “we will take over your country from within”. Looks like he was right.Lock and load one round HE. Let us fight to keep. Men free!!!!

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