According to the left-leaning, nonpartisan Tax Policy Center, the House bill would raise taxes on up to 30 percent of middle class households in 2022 - tens of millions of people - and would raise taxes further in subsequent years.
"President Joe Biden's Build Back Better agenda would raise taxes on up to 30 percent of middle-class families, despite his campaign promises not to hike taxes on anyone making under $400,000 per year, according to a new analysis."Taking into account all major tax provisions, roughly 20 percent to 30 percent of middle-income households would pay more in taxes in 2022," an analysis published late Thursday by the non-partisan Tax Policy Center found...In 2023, the proposed expansions of the Child Tax Credit payments would end and the corporate minimum tax on book income, which is one of the largest proposed tax hikes in the bill.
A proposed increase in the nicotine tax could also increase tax burdens across all income brackets.
House Democrats voted to hike taxes on tens of millions of middle class Americans in order to pay for legislation that features major tax breaks for rich people living in high-tax blue states.
Tax hikes for the middle class, tax breaks for most millionaires in the country.
The House Democrats' BBB legislation gives $1 million+ earners a BIGGER initial tax cut than even the GOP 2017 tax cuts did.
The result: a package that front-loads spending while tax revenues arrive only over a decade.
It's becoming increasingly difficult to discern fact from fiction, and unfortunately the media has a strong bias. They spin stories to make conservatives look bad and will go to great lengths to avoid reporting on the good that comes from conservative policies. There are a few shining lights in the media landscape-brave conservative outlets that report the truth and offer a different perspective. We must support conservative outlets like this one and ensure that our voices are heard.
No comments:
Post a Comment