Biden Administration to Introduce $3 Trillion in Tax Increases

By daniel_g

It’s amazing to see how much Democrats hate the poor and middle class.

Right after passing the socialist “stimulus” that will inevitably raise taxes on working class Americans, Biden announces more planned tax increases.

In addition to the eventual inflation (maybe hyper-inflation), this is going to devastate middle class and lower-income American families.

Yet, “tax the rich” is still the mantra that Democrats love to shout.

Who actually believes the rich pay for Democrat tax increases anymore?

Well, liberals and brainwashed sheep.

That’s who.

Here’s the latest:





The mileage tax proposed by Transportation Secretary Pete Buttigieg is the most insidious and blatant attack on working-class Americans.


Wow, look how much Democrats hate poor people.

It’s truly astonishing that half this country eats up their garbage to see more money ripped from their pockets.

But it appears the amount of pushback on Buttigieg’s proposal has ended those Democrat dreams for now:


Fake News Washington Post reported on the planned tax hikes:

When President Biden’s team began putting together his infrastructure and jobs package this February, the White House National Economic Council circulated an internal proposal calling for about $3 trillion in new spending and $1 trillion in new tax hikes, according to three people with knowledge of the matter.

But soon enough, some members of the economic team second-guessed themselves, concerned that the plan could jeopardize the nation’s long-term financial stability. The officials worried that the large gap between spending and revenue would widen the deficit by such a large degree that it could risk triggering a spike in interest rates, which could in turn cause federal debt payments to skyrocket, said the people familiar with the matter.

The two-pronged package Biden will begin unveiling this week includes higher amounts of federal spending but also significantly more in new tax revenue — with possibly as much as $4 trillion in new spending and more than $3 trillion in tax increases, said the people, who spoke on the condition of anonymity to describe private dynamics. One person familiar with the matter said that the early infrastructure draft did not include every tax increase the White House was eventually considering including in its ultimate proposal, and that the administration believes the tax hikes can also advance its goal of reducing income inequality.

Still, the choice to increase the bill’s tax hikes in part because of its effects on the deficit reflects how concerns over the nation’s spending imbalance are shaping the White House’s internal policy debate. But it also sets up the administration for an enormous political challenge in convincing Congress to pass a package of tax increases on wealthy Americans and companies that together would represent the largest tax hike in generations.

The shift in strategy reveals just one of the many ways the White House has grappled with shaping Biden’s second major legislative effort, which the administration will kick off this week at an event in Pittsburgh.

Biden’s “Build Back Better” agenda is ambitious in scope, aiming to confront global climate change, rebuild the nation’s infrastructure, revive domestic manufacturing and transform U.S. child care, among other goals.

The path toward crafting the legislation has exposed the White House to crosscutting demands from key allies. This account is based on interviews with seven senior administration officials involved in the effort, as well as more than a dozen congressional officials, labor leaders, activists and economists involved in the crafting of the package.

One core tension is to what degree Democrats should emphasize investments in traditional physical infrastructure seen as more likely to garner GOP support — such as roads and bridges — rather than child care and other social spending that liberal economists increasingly have emphasized as critical to ensuring robust economic growth.

It is unclear to what extent Biden has the political capital to do both. Already, the administration has decided to trim its sails somewhat and is not expected to make a child anti-poverty initiative permanent or embrace a plan from Sen. Elizabeth Warren (D-Mass.) to devote as much as $500 billion to push mass transit away from fossil fuels.

99.9% Pure Investor Grade Silver Trump Collector Coins!

“We know that Republicans and particularly blue-collar men really like the physical building kind of infrastructure and see that as leading to good paying jobs for men in particular. And women and the Democratic base really respond to what you might call softer infrastructure — child care; school; caregiving responsibilities — which have come home very vividly during covid,” said Celinda Lake, a Democratic pollster who advised Biden’s 2020 presidential campaign. “It’ll be a challenge, but they have a major opportunity here to do both in a way that both helps these constituencies and is majorly appealing to them as voters.”

Republicans have already begun to attack the White House for embracing large spending and tax plans — which would largely reverse former president Donald Trump’s 2017 tax cut — that reflect Democratic priorities with very narrow majorities in Congress.

Democrats always like to complain about trickle down economics to criticize tax cuts.

Well, I’m coining a new term.

This is nothing but “Trickle Down Taxes.”

Because you know the economic detriments of these tax hikes will impact the lowest-earning Americans.

Orginal Source

Enter Email to get CNBS Daily News

Enter Email to get CNBS Daily News