This week, Democrats are trying to ram through $2 trillion worth of tax increases, which would be the largest increase in decades.
Here are 5 facts they won’t tell you (and the liberal media is hiding also):
- Their plan violates Biden’s pledge by hiking taxes on earnings of more than $30,000.
Joe Biden has repeatedly stated that his plan wouldn’t raise taxes on anybody making under $400,000 per year, but this plan increases taxes on people making just $30,000 or more. Make no mistake about it: middle class Americans are going to bear the burden of funding Joe Biden’s socialist agenda, even if AOC wants you to think otherwise.
- Their plan increases taxes for small businesses.
Their plan would limit tax deductions for pass-through businesses, which is a structure favored by small businesses like independent contractors, landscapers, family-owned restaurants and more. These businesses have already been hammered by coronavirus-related lockdowns and now Democrats want to deliver the knockout punch.
- Their plan increases taxes on American businesses to higher than Communist China.
Democrats want to increase the federal corporate tax rate to 26.5%, which is higher than Communist China’s 25% rate! The average corporate tax rate in Europe is less than 20%. The result would be more American jobs sent overseas.
- Their plan includes a massive IRS slush fund.
The bill would send nearly $80 billion to the IRS for the vague goal of “strengthening enforcement efforts.” The IRS has a long history of abusing their power to target political enemies of the Administration and Joe Biden wants to give them another $80 billion to harass American taxpayers.
- Their plan targets your retirement account.
The proposal makes numerous changes to 401(k) and IRA retirement accounts, including increasing taxes and adding new red tape. Plus, increased taxes on capital gains will make it more difficult to plan for retirement outside of these accounts.
If you agree that this would be a disaster for our country, please sign our official petition to oppose this plan:
It is critically important that as many people as possible sign this petition ASAP because Nancy Pelosi is trying to push through his plan THIS WEEK!
Thank you for the support,