Government Watch / Politics

Will Biden’s Tax Hikes Hurt the Middle Class?

Biden Meeting

If there is one thing we’ve learned over the last ten months is that a lot of what we hear coming out of the White House is at best misleading. From the Biden border crisis misdirection, or a “challenge not a crisis” as the White House would like you to think, to the President’s $3.5 trillion spending proposal that he bizarrely insists “costs zero dollars” and “adds zero dollars to the national debt,” the pile-up of lies and misleading statements are becoming hard for even some on the left to ignore.

Washington Post fact-checker Glenn Kessler reportedly said that Biden’s claim was “misleading,” after he gave the President “Two Pinocchio’s” and noted that the number of Pinocchio’s “could grow higher.” Now, it appears that the number of Pinocchio’s is indeed about to grow higher. The President tweeted, “I give you my word as a Biden: If you make under $400,000 a year, I’ll never raise your taxes one cent.” An interesting point to underscore as he releases 1700 pages of tax hikes on the American people. 

“Nearly 6 million taxpayers taking home less than $100,000 per year would see their taxes go up in 2023 under the Biden legislation,” the Heritage Foundation reported. Their fact check revealed much worse than what others have anticipated: That the President’s $400,000 income threshold a promise is contradicted by the policies released, and in fact, it will dramatically hike taxes on the middle and low-income classes directly and indirectly. The Biden plan “would even hike taxes on hundreds of thousands of families earning less than $20,000 per year.” If his plan is made law, Heritage reports that, by 2027, “more than half of all families earning $75,000 to $100,000 would see their taxes go up by a total of more than $3 billion.”

But was the President misled himself, or is he perpetuating this myth knowing it’s false? For someone who has been in government for the last 40 years, it’s hard to believe that he doesn’t know the effect of such a massive tax hike. 

“I challenge you to find an economist who will say that is even possible,” William McBride, vice president for federal tax and economic policy at the Tax Foundation, told CNBC. McBride’s reasoning is simple: everyone in the economy is connected. “If you raise tax on this taxpayer here, good luck in isolating that effect to just that taxpayer,” McBride says. “It’s not actually possible.” As a result of small business and corporate rates going up, both middle-class workers and consumers will be worse off. 

A recent report from Americans for Tax Reform indicates that Biden knows very well that he’s peddling misdirection on taxes because he’s done it before. “Joe Biden cannot be trusted when he says he won’t raise taxes on Americans making less than $400,000 per year. In addition to the fact that he has endorsed many tax increases on middle-class Americans during the past few months (re-imposition of the $695 – $2,085 individual mandate tax, repeal of the Tax Cuts and Jobs Act, a carbon tax, and raising the capital gains tax on “every single solitary person,” so it is taxed at ordinary income tax rates) he also broke his tax pledge the last time around, betraying the American people.” It certainly doesn’t sound like Biden’s rhetoric matches the reality. 

When Biden was Vice President under President Obama, he again falsely stated in 2008, “No one making less than $250,000 under Barack Obama’s plan will see one single penny of their tax raised whether it’s their capital gains tax, their income tax, investment tax, any tax.” That pledge was broken within a month of Obama taking office. 

Clearly, President Biden has a problem with the truth and a questionable track record on keeping tax pledges. The American people should be skeptical of this rhetoric, especially as inflation picks up and the economy continues to struggle with adding jobs. Now is not the time to hike taxes on the American people, especially under the clearly false guise of taxing only the rich. 

Bob Carlstrom is President of AMAC Action 


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GT Patriot
6 months ago

$5.00 per gallon gas by July of 2022.

GT Patriot
6 months ago

Biden’s centerpiece legislation, the $5 trillion social engineering program disguised as
“Infrastructure” appears to be be going down in flames. Sometimes there is sensibility
in our congress although rare. I’ve heard nothing about roads and bridges and septic
systems but I’ve heard plenty about free college, housing assistance, and free daycare.
The “let us take care of you” movement still persists. Meanwhile we have 10 million jobs
in this country that can’t be filled. Chik-fil-A in south carolina is offering $19 per hour.

GT Patriot
6 months ago

xxxxx

Hgfd
6 months ago

Obama was a lying CF MF-ing b!tch too. All Democrats are F-Ing liars.

Hgfd
6 months ago

Phaq this lying CS.

Thomas
6 months ago

Biden doesn’t care about the American people for he doesn’t feel the pain @ the pump,

Fran
6 months ago

Will the tax hikes hurt Americans? ” Do bears ???????? in the woods?” I may be old but I’m not brain dead!!!

Bill
6 months ago

This guy is an enemy to the American people and the state..

Hal
6 months ago

By the way, Joe Hidin’ Biden is and has always been a LIAR. Anyone that gives any credence to what he says is playing the role of a fool.

Hal
6 months ago

The combination of Tax hikes and inflation will hit the economy about as hard as anything has in the past few decades. People still tend to take in to account that inflation is just a subtle form of taxation that allows the news media to defend the tax hikes.

Dave Winslow
6 months ago

The title is: Will Biden’s Tax Hikes Hurt the Middle Class?IF it all passes as Biden has proposed it will devastate the middle class. The working class folk will be destroyed financially.
The wealthy have smart advisors, lawyers, accountants, etcetera to help them get through with minimum losses.
The poor and the illegals will do better than ever as Biden and associates pass out truckloads of money to potential Democrat voters.
Those who work for a living and live paycheck to paycheck will see their taxes go up and everything else they need to live their lives will go up: gasoline to get to work, food, gas to heat their houses, electricity, clothes, etcetera. Inflation will make the price of everything go up. The supply chain disaster will make things less available and raise the prices even more.
If the election corruption is not sufficiently reduced and the Democrats win in 2022 our country is going to go the way of Venezuela. The rich will be moving out and the working class will be starving.
If you want America back, stand up, make your voice heard, and VOTE.

Bill on the Hill
6 months ago

Joe Biden is & has always been a pathological liar for his entire worthless 50 years in politics…
He not only lies on a constant basis, he is also a proven plagiarist, in other words JRB as ZERO imagination…He steals other people’s ideas & piggy backs them onto his own mindless manifestations he claims as the best things since slice bread…
Everybody pays under any O’Biden tax plan, just as they did under his former master, Barack Hussein Obama, arguably the worst president in US history, especially where economics & national security were concerned as America is once again experiencing the Obama effect in those two areas & many others, or put another way, we are experiencing Obama’s ( 3rd ) term on steroids…
( 8 ) longs years living with a ” flatlined economy, ” high unemployment & telling the enemy in advance when the US would retreat…Followed by ( 4 ) years of economic growth, increased wages, jobs galore, companies returning home, a patriotic POTUS that actually cared about the American people…Look at us now folks & with that, I rest my case…My message to JRB, F**K You!
Bill on the Hill… :~)

Max
6 months ago

Bill, sometimes you have to wonder why people don’t catch on to these shenanigans that our politicians do to get elected.

PaulE
6 months ago
Reply to  Max

Nothing to wonder about Max. It boils down to sheer stupidity. That may not be a very polite answer, but it is completely accurate and truthful.

Max
6 months ago
Reply to  PaulE

I know.

Dave Winslow
6 months ago
Reply to  PaulE

And as most of us know well, THERE AIN’T NO CURE FOR STUPID.

AND SADLY FOR THE U.S.A. – WE’RE STUCK WITH 3 MORE YEARS OF IT.

Sherrylees
6 months ago
Reply to  Dave Winslow

Not if we don’t let it.
Get busy America and take back our country and throw the bums out and their fleas with them! No time like the preasent!!!!!

Bill
6 months ago

Thanks,Bill,I concur! FJB/LGB!!! He’s even more worthless now than when he was senator,vice president,and now “president.” Is it the Peter Principle? Has this “president” risen to the most incompetent one EVER?

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