Biden plans to raise taxes

Well, if you are a business and you make more than four hundred thousand bucks, you just raise the price of products to make up for the loss of income from the extra tax. These bigger businesses supply all the smaller businesses in the country, so the tax is passed on right down to the person who buys the products. The rich do not lose money when taxes are raised, they incorporate it into the cost of the product.

Right now most everything that comes into this country goes through big businesses...imports. Most businesses in California that supply food, and most big farmers will have to raise prices since their profit margins are not that great. Remember, raising the price also raises income and that is taxed. So multiplying the tax amount by say one and a half will be added to the cost of goods sold and paid for by the consumer.

a reply to: marg6043

We only know it's gonna be bad. Really bad.

But, hey, we'll build back better, right? Ol' Biden, and the controllers, all said so--and they'd never, ever, lie to us.

Build back better... Shouldn't have to, except for "Covid gonna kill us all, unless we destroy the economy!!"

a reply to: rickymouse

My business just passes extra expenses a long to the customer.
Even the idea that higher taxes will help the budget is silly. More revenue means nothing without spending cuts.

a reply to: gortex

They can pay for it by cutting spending, balancing the budget then even reversing it into a surplus. The democrats have full control now, they are the righteous, the pure at heart, the extra most bestest.

I'm not worried because when biden wakes up he will save us all from the pain, truth, choice and other poison devils. You see, no one gives a F about us like biden does!

a reply to: seagull

Have to love the political swamp creatures in our country, career good for nothing swamp creatures.

a reply to: Bluntone22
Didn’t he say while campaigning that he was going to do this?

a reply to: Somethingsamiss

Yeah,,, another in along list of reasons I didn’t vote for him.

a reply to: Alien Abduct You mean like Clinton? Will Rogers noted that $$ trickes up not down

originally posted by: Bluntone22
Who didn't see this coming?

"President Biden is reportedly planning the first major hike in federal taxes in almost 30 years to fund the economic program set to follow the recently approved $1.9 trillion pandemic stimulus package."

"The planned increases reportedly include: raising the corporate tax from 21 percent to 28 percent; increasing the income tax rate on people making more than $400,000; expanding the estate tax; paring back tax preferences on pass-through businesses such as limited-liability companies; and setting up a higher capital gains tax rate for individuals making at least $1 million"


Gotta love how it's just a tax on the rich and on businesses. These things never snowball onto everyone else.
I said that this election will bite the American public right in the butt.
Better grab your ankles boys...its Gunna get bumpy.

Just heard today that a local company that makes cardboard boxes is shutting down a bit because they can't get glue.
That on top of the other shortages I've heard about recently.



thehill.com...

Don't own pass-through corporation or make over 400k a year.. don't care.. let them pay more. No issue with this.

originally posted by: TheBoomersRBusted
a reply to: Alien Abduct You mean like Clinton? Will Rogers noted that $$ trickes up not down

Yep, like Clinton.

He'd be considered conservative by today's asshats.

originally posted by: butcherguy
I expect they will set their sights higher on the 401k plans.
Look for a complete takeover.
They nationalize all of it in a plan like Social Security insurance. They won't roll it into Social Security, just make a new system like it.
They will watch over our money for us, to make sure that evil Wall Street tycoons will not lose it for us.

They will do much worse than that.

They will pump it into the stock market - then act all surprised when everyone's retirements are wiped out in the next crash.

originally posted by: Bluntone22
Who didn't see this coming?

"President Biden is reportedly planning the first major hike in federal taxes in almost 30 years to fund the economic program set to follow the recently approved $1.9 trillion pandemic stimulus package."

"The planned increases reportedly include: raising the corporate tax from 21 percent to 28 percent; increasing the income tax rate on people making more than $400,000; expanding the estate tax; paring back tax preferences on pass-through businesses such as limited-liability companies; and setting up a higher capital gains tax rate for individuals making at least $1 million"


Gotta love how it's just a tax on the rich and on businesses. These things never snowball onto everyone else.
I said that this election will bite the American public right in the butt.
Better grab your ankles boys...its Gunna get bumpy.

Just heard today that a local company that makes cardboard boxes is shutting down a bit because they can't get glue.
That on top of the other shortages I've heard about recently.



thehill.com...

Update 12/4/2021

IRS Data Shows - TRUMP TAX CUTS BENEFITTED THE MIDDLE-CLASS THE MOST

Income data published by the IRS clearly show that on average all income brackets benefited substantially from the Republicans’ tax reform law, with the biggest beneficiaries being working and middle-income filers, not the top 1 percent, as so many Democrats have argued.

More at: thehill.com...

Once again, Democrats LIED/LIE, and Joe Biden comes down on the WRONG SIDE of the fence, by implementing polices that HURT WORKING AMERICANS.

Keep the above in mind as we move closer to the 2022 mid-term elections.

a reply to: Bluntone22

Illegal Theft of Americans Hard Earned Incomes . The Democrats are Masters of it.................