Monday, August 2, 2021
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Biden’s Tax Plan Looks More Like Socialism Than Democracy

President Joe Biden unveiled sweeping new social services under the American Families Plan that would raise taxes on many people to fund the 10-year initiative. The effort looks more like socialism than the actions of a leader of a democracy.

The plan includes raising the individual income tax rate to 39.6% according to Fox Business, the level before the 2017 Republican tax break.

“No one making $400,000 per year or less will see their taxes go up,” the White House said, according to the report.

But many Americans are not so quick to trust Biden’s words. Fox Business noted, “The enhanced credit provides low- and middle-income parents with up to $3,000 for every child ages 6 to 17 and $3,600 for every child under age 6. The expanded amounts are tapered off once income hits $75,000 for individuals and $150,000 for married couples.”

It added, “If families earn too much to qualify for the sweetened tax credits, they can still receive the $2,000 credit for their children if their income level is below $200,000 for individuals and $400,000 for married couples.”

But with taxes up to nearly 40 percent, the level will become unbearable for many Americans. The high-wage earner tax brackets also may hurt business owners so much that they slow hiring—something that would be devastating to our economy.

 

The tax changes look increasingly like those of socialist nations of Europe. In exchange for more services, such as government health care, some nations include much higher tax rates than the U.S.

Of course, the U.S. has been the world’s top economy for many years in part because it has not followed the same strategy as Europe. We have excelled because we’ve played by a different set of rules that allow maximum freedom and limited government.

Now we have a president and a party influencing the nation in a leftward slide that says it wants to be more like Finland but may end up looking more like Venezuela. Biden claims his plan is more like Robin Hood, but remember, Robin Hood’s actions were illegal despite making a great action film.

Instead, conservative led states have been working on their own to roll back unemployment benefits, extend tax break incentives and serve businesses and individuals in ways that help. A great example can be found in comparing blue and red states.

Illinois, a Democrat led state, lost $6 billion in revenue in 2020 and have a higher percentage of people leave than any other state. In contrast, Florida, a conservative led state, had $12 billion in revenue and was among the fastest-growing states in the nation.

Accident? Nope. Disney wasn’t even open much of the time, but conservative leadership worked to keep momentum going despite a pandemic and no help from Democrats.

Biden’s overall agenda doesn’t seem to be as much about helping families as it is about expanding big government. That’s a service many Americans should really fear.

More government means more taxes, plain and simply. The more bureaucracy, the more we pay to keep it running. This is not about America first, but rather about putting Americans under government control.


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