Biden Set To Unveil More Than $2 Trillion In Tax Hikes In Budget

[jknowgood]

The reason we have a middle class is literally because of
1. Anti-trust allowing for competition
2. Leftist regulation and fairness in workers rights
3. The high tax rates on the rich during the 1920's through 1970's that allowed investment within our own country.

Ever since assholes like Reagan cut taxes all the wealth have been moving away from 95% of this country into the hands of the pigs.

I guess you make around $30,000 a year? Bless your heart.

 

[Blues Man]

OK, but my point stands as you note. It's just a very small move to address our problem and he did this when he knew it would never pass.

It's not going to do a damn thing.

 

[g5000]

Biden has submitted a $6.8 trillion budget.

That is more than outrageous. The pandemic is over. There is absolutely no excuse for that kind of spending.

Setting a goal of reducing the deficit, instead of actually balancing the budget is also more than outrageous.

 

[scruffy]

Biden set to unveil more than $2 trillion in tax hikes in budget

President Biden is set to formally propose an array of tax increases on wealthy individuals and corporations in a budget plan that he says will reduce the deficit by $2 trillion over the next decad…

thehill.com

President Biden is set to formally propose an array of tax increases on wealthy individuals and corporations in a budget plan that he says will reduce the deficit by $2 trillion over the next decade, setting up a battle royal with Republicans on Capitol Hill.

Biden told lawmakers during his State of the Union address last month that his budget will lower the deficit and extend the solvency of the Medicare Trust Fund “by making the wealthy and big corporations begin to pay their fair share.”


The White House on Tuesday unveiled a proposal to raise the Medicare surtax on earned and unearned income above $400,000 from 3.8 percent to 5 percent.

Late last month, the president proposed a new tax on wealthy households that would require individuals and families worth more than $100 million to pay a 20 percent tax on income and the unrealized gains of liquid assets such as stocks.


Now that's just stupid, taxing the value of your stocks before you have sold them. There's no way anyone will go along with that. Maybe Biden put that in there as a bargaining chip to give away in exchange for something else.

"Reduce the deficit by $2 trillion over the next decade". So what's that? Reduce our current trillion and a half dollar deficits by $200 billion a year? Whoop-dee-do!


Republicans say Biden’s budget will be dead on arrival when the president formally sends it to Capitol Hill on Thursday.

Meanwhile, Republicans have offered no plan at all to reduce our debt they helped to build.

DBA

Dead before arrival.

 

[g5000]

DBA

Dead before arrival.

At least the Democrats have put a budget on the table.

Meanwhile, the Republicans hold circle jerk theater for the rubes.

 

[JGalt]

At least the Democrats have put a budget on the table.

Meanwhile, the Republicans hold circle jerk theater for the rubes.

SDBA


Still dead before arrival.

We don't need a budget. What we need is for Biden's government to shut down permanently until it's replaced with something else.

 

[themirrorthief]

At least the Democrats have put a budget on the table.

Meanwhile, the Republicans hold circle jerk theater for the rubes.

Ukraine and millions of illegals need the money...hopefully they will not have to get jobs...god forbid

 

[BluesLegend]

We need one of these for Biden