Joe Biden campaigned for President as a moderate and centrist.
That was a lie.
And now Joe Biden has some bad news for every American about their paycheck.
Democrats under Joe Biden are pushing the biggest spending bills in American history.
Biden just signed a nearly $2 trillion Blue State Bailout bill into law and now Democrats are moving to another multi-trillion dollar Big Labor payoff bill under the guise of “infrastructure” improvements.
To “pay” for this so-called “infrastructure” bill, Democrats are planning to raise trillions of dollars in taxes, which will affect every American.
Bloomberg reported the tax hikes under consideration are:
1. Raising the corporate tax rate to 28% from 21%.
2. Paring back tax preferences for so-called pass-through businesses, such as limited-liability companies or partnerships.
3. Raising the income tax rate on individuals earning more than $400,000.
4. Expanding the estate tax’s reach.
5. A higher capital-gains tax rate for individuals earning at least $1 million annually. (Biden on the campaign trail proposed applying income-tax rates, which would be higher)
Even if Joe Biden and the Democrats claim they aren’t raising taxes on any American making less than $400,000 per year, raising taxes on corporations and small businesses will result in higher prices and fewer jobs for everyone else.
The economy is still struggling to recover from the Democrat-led Coronavirus lockdowns and critics contend that raising taxes in this environment will choke off economic growth and eliminate jobs.
During the campaign, Biden pitched himself to voters as an unthreatening moderate.
At the same time, Biden proposed raising taxes by $4 trillion.
Biden counted on enough people not paying attention to his actions and only focusing on his words.
And now many Americans who supported Biden may be in for a surprise.
Renewed Right will keep you up-to-date on any new developments in this ongoing story.