If a new tax bill passes the Senate, the middle-class would be hit hard.
“The House tax bill would raise taxes by $2.1 trillion, making it the largest peacetime tax increase in U.S. history. It contains 45 separate tax increases and would raise taxes on individuals, small businesses, companies, family farms, and other estates. Analysis by the nonpartisan Joint Committee on Taxation shows that a substantial number of taxpayers at all income levels would pay more in taxes…
“Middle-income taxpayers would be hit hard. Nearly 60% of taxpayers earning between $75,000 and $100,000, roughly the national median family income, would face a tax increase.”
Meanwhile, Biden Inflation is rising at the fastest pace in thirty years.
Via Washington Examiner
UPDATE: New taxes across the board are needed to pay for the so-called infrastructure bill’s big expansion of the welfare state: “The Democrats are seeking to institute a universal basic income through the back door while simultaneously establishing a cradle-to-grave welfare state.”