Wednesday, July 24, 2024
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Biden Brags about Plans that Will Further Hurt Struggling Americans if He Wins Reelection

Joe Biden is planning to give Americans one of the largest tax hikes in American history to take more money from the American people who he has brought to an unprecedented level of economic despair.

The Tax Cuts and Jobs Act is set to expire in 2025 and Biden has no plans to renew it or even replace it with something of his own.

Biden tweeted out, “Donald Trump was very proud of his $2 trillion tax cut that overwhelmingly benefited the wealthy and biggest corporations and exploded the federal debt. The tax cut is going to expire. If I’m reelected, it’s going to stay expired.”

Apparently, Biden and his team think it’s a good idea to promote their plans to collect more taxes at a time when American’s wallets are hurting more than ever – because obviously, the federal government needs that money to send to Ukraine and fly more illegal aliens into America!

 

Moreover, Joe’s framing of the Trump-era tax cuts is just flat-out dishonest.

As a percentage of income, Trump’s tax cuts actually benefited the MIDDLE CLASS the most. You know, the same middle-class Biden has been trying to crush since the very first day of his presidency.

An analysis of IRS tax data which includes the effects of tax credits made available by Trump’s policy showed that Americans with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16% to 26% in 2018 – they first year the policy went into effect.

Those who earned $50,000 to $100,000 received a tax break of about 15% to 17% and those earning $100,000 to $500,000 in AGI saw their personal income taxes cut by around 11% to 13%.

When compared with the ultra-wealthy which Joe Biden and the Democrats often love to demonize, it’s obvious that Trump’s cuts helped everyone – but helped middle class Americans the most.

No income group with an AGI of at least $500,000 received an average tax cut exceeding 9% and the average tax cut for brackets starting at $1 million was less than 6%.

This means the vast majority of America, the middle-income working class, enjoyed a tax cut that was AT LEAST double that which the wealthy received – despite would Biden and co. would have you believe.

Democrats have been itching to get rid of these tax cuts from the moment they took effect because as we all know, their communist version of America required people to hand over the majority of their earnings to the federal government and in their eyes these cuts were a step in the wrong direction.

Then-House Minority Leader Nancy Pelosi warned that Tax Cuts and Jobs Act would bring about “Armageddon” while calling it “one of the worst bills in the history of the United States Congress.”

Unhinged left-wing economist Bruce Bartlett said on MSNBC the tax cuts were “really akin to rape” of the poor which doesn’t even make sense considering it actually let the poorest Americans keep MORE of their money

As for the bill’s impact on the economy, well that couldn’t be clearer either. After it passed in late 2017, the 2018 GDP increased 3.1% compared to 2.5% the previous year.

While American working-class are feeling the crushing weight of Bidenflation making it insanely difficult for them to simply feed their families, Joe is looking to make things WORSE by reaching deeper in to their pockets for the sake of having more tax dollars to spend on funding foreign wars or rewarding foreign invaders coming to America.

Biden is effectively saying to the American people that if he is allowed to remain in office, things are going to get MUCH WORSE for the middle class – and he’s proud of that.


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