Biden’s current plan of his tax-hike on those businesses that make over $450K or more a year to help cover their 3.5T funding will destroy our economy.
“Tax the Rich!” “Share the Wealth!” It’s ignorance for their followers, but for these politicians it’s both stupidity of some and a scheme to crush our economy by the others. But WHY would they want to crush our economy (by ‘progressively’ raising taxes on those who are prospering in big ways (corporations) and then are able to provide the MOST jobs in our nation? Small businesses provide minimum wage mostly, but gives people a place to start.
I’m interested in this because our family has a ‘Construction’ small family business that is “incorporated.”
The narrative is to hit the millionaires and billionaires, but it WILL have a trickle-down-effect on us all. It’s the working families that will get hit with a great tax increase in the democrat’s 3.5 trillion plan of spending. This plan will hurt small business more than big business, and they know it.
Congress’ own tax committee says that this ‘waste’ funding/spending that raises all our taxes will LAND THE HARDEST ON MIDDLE INCOME FAMILIES.
This administration is punishing investors with this plan from investing HERE IN AMERICA; forces them to invest overseas instead. This destroys our economy. Three million businesses have been killed HERE under this administration, pushing them overseas to help other economies of nations, like China our enemy. What stupidity! Or is it?
We will see with them having their way here: more small businesses not able to survive, less growth in paychecks, less growth in opportunities to prosper.
Mainstream America gets POUNDED in this tax bill with the government taking greater control over our lives: business, paychecks, health, life altogether, and that’s what driving them.
The prosperity we WERE SEEING in 2019 (under Trump): lowest level of poverty in American history; closed racial gap in unemployment; blue collar wages rising more than in one year than in a whole decade under Obama, people weren’t taxed to death, but their taxes cut which led to economic growth, our 401Ks were protected, unlike under this administration’s bill. In the year of 2019 (under Trump) there was more economic expansion than in Obama’s 8 years. There was more economic equality in 2019, the poverty rate the lowest because women and people of color and young people without skills were getting good paying jobs with rising paychecks – because businesses were free to prosper under Trump (a business man with common sense).
The power of economic freedom is letting people KEEP MORE of what they earn! Cut taxes! Common sense! But common sense is being thrown out today! You give businesses incentive to grow and expand with their workers! Part of that is ‘cutting taxes’ on businesses and corporations.
Joe Biden is NOT a ‘capitalist,’ no matter what he says. His plan proves it, punishing working families not only with this tax plan, but with COVID policies and now declaring war on the ‘unvaccinated’ and what that will do to even more working family small businesses. Biden wants the wealthy to pay their share. He has the ignorant in the democrat party thinking it’s NOT FAIR that the wealthy aren’t paying more taxes than they are. They have been made to believe by a false narrative that the wealthy write their own rules for being taxes, for expanding, and for their own growth.
Under this plan, for example: a small business tries to expand doing more of the same in other communities (franchises). But when they reach Biden’s threshold of $400K a year, they come under a huge tax increase, so that they cannot keep growing and creating more jobs. This HINDERS a growing economy, hinders job increase and individual opportunities. Another example: a family business wants to be passed down to the next generation who will have huge taxes to deal with, not able to carry on the business.
When they go after “capital gains,” with increasing taxes you have less investments going on to keep the economy going and growing as our population keeps growing under this anti-American administration. They want a bigger population beholding to them, with their open borders and Afghan refugees favored over our American citizens left behind to suffer under the Taliban. Who is going to support all this funding to support all these illegals and refugees? Not to even mention, all coming into our nation with COVID and criminal plans! OUTRAGEOUS!
This is not just about the Billionaires; it will GREATLY affect ALL America’s hard working families – as it trickles down. But the simple-minded don’t seem to get this, or they are simply afraid to see it and then be responsible to provide for themselves, instead of government nursing them through life.
So I go back to my original question: WHY IS THIS WHITE HOUSE ADMINISTRATION WORKING SO FAST AND AGAINST OUR CONSTITUTION – TO DESTROY AMERICA’S ECONOMY? WHO or WHAT is really behind it all? Clearly it’s about transforming American into a different country where we work for the government instead of the government working for us “we the people” who have more power than they do, ACCORDING TO OUR CONSTITUTION! And that’s why this party in the White House is breaking our constitutional laws in so many ways. But who will hold THEM accountable? They have the WH, the Senate and the House, right now. They want to pack the Supreme Court – so they can control that accountability also!
It’s something we better understand and deal with FAST! May these next two elections show that Americans of all ‘parties’ have finally seen what they need to see, hear what they need to hear, understand what they’ve needed to understand – so we can DO WHAT WE NEED TO DO!
God help us!