Harris Lies, Claims Build Back Broke Is ‘Fully Paid For’ And Won’t Raise Taxes On Anyone Making Under $400K

[Weatherman2020]

I’ll bet you a heating bill and a cigarette she’s wrong.
Those making more than $400K smile as they raise their fees on the little people.

With no effort at all Kamala Harris has managed to make herself even more unlikable than Hillary Clinton.

Here are the facts:

Nearly 6 million taxpayers taking home less than $100,000 per year would see their taxes go up in 2023 under the Biden legislation.

Biden would even hike taxes on hundreds of thousands of families earning less than $20,000 per year.

And things get worse for the middle class the longer Biden’s tax increases are on the books. By 2027, more than half of all families earning $75,000 to $100,000 would see their taxes go up by a total of more than $3 billion.

Front Page Featured | MRCTV

www.cnsnews.com

 

[Rambunctious]

Won't raise taxes my ass...everyone's taxes are going up...that's why they are hiring 85,000 new IRS agents....not to look into exxon but to look into you...middle class America....

 

[pknopp]

The worse part is it will cut taxes for those making well more than 400k.

 

[MarathonMike]

The Democrats are coming for your money just like they always do. They say 'tax the rich' or paint it on their ass but they don't mean it. If their insane spending bill passes, they will be adding 80,000 IRS agents to come calling on you whenever you make a bank transaction they deem "suspicious". They do nothing but lie and deceive the American people every single day.

 

[Resnic]

It's paid for huh?

By who? How?

 

[kaz]

I’ll bet you a heating bill and a cigarette she’s wrong.
Those making more than $400K smile as they raise their fees on the little people.

With no effort at all Kamala Harris has managed to make herself even more unlikable than Hillary Clinton.

Here are the facts:

Nearly 6 million taxpayers taking home less than $100,000 per year would see their taxes go up in 2023 under the Biden legislation.

Biden would even hike taxes on hundreds of thousands of families earning less than $20,000 per year.

And things get worse for the middle class the longer Biden’s tax increases are on the books. By 2027, more than half of all families earning $75,000 to $100,000 would see their taxes go up by a total of more than $3 billion.

Front Page Featured | MRCTV

www.cnsnews.com

She didn't laugh, so you know she wasn't telling the truth. She giggles when she means it

 

[task0778]

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. The Tax Policy Center said this will hit families indirectly by limiting companies’ return to shareholders, which include workers and those investing for retirement. A proposed increase in the nicotine tax could also increase tax burdens across all income brackets. “In general, the combined effects of these changes would result in many households paying higher taxes in 2023 than in 2022. They would shrink the average 2023 tax cuts for low-income households, raise taxes slightly for moderate-income households, and increase taxes significantly for the highest-income households,” the Tax Policy Center said. Meanwhile, another part of the proposal that would increase the deduction limit on state and local taxes — popularly known as SALT deductions — would benefit wealthy families in high-tax states like New York and California, while providing almost no benefit to the middle class, according to the analysis.

Yes, you read that right. About half of all Americans live in middle class households, so let's ballpark it at 165 million people. Tens of millions of these people would see their taxes go up next year under the House Democrats' BBB bill, with the situation growing worse in 2023. Biden promised that nobody would see a tax increase except those earning $400,000 or more. In addition to that, as the excerpt above flags, blue state rich people are poised to get a tax break under this plan.

https://townhall.com/tipsheet/guybenson/2021/11/15/analysts-dem-build-back-better-plan-would-raise-taxes-on-middle-class-give-tax-break-to-millionaires

It's amazing that the democrats would lie like hell about raising taxes on people making under$400k, and yet say nothing about cutting taxes for the wealthy when they increase the SALT deduction limit.

 

[Rye Catcher]

Those who posted above have not taken every aspect on dependent variables on Taxes and Deductions.

Examples:
SALT, Corporate Deductions, Capital Gains, the "death" tax, etc.

Nor have they considered the income taxes paid as more people are going to work and many will secure high wage jobs that will be paying into the Federal Treasury via IRS, and into State and local governments to hire police and sheriff officers/deputies, more non sworn personal to respond to 911 calls from families and others seeking an out of control individual.

 

[colfax_m]

Nearly 6 million taxpayers taking home less than $100,000 per year would see their taxes go up in 2023 under the Biden legislation.

I read the article and it seems to me they don’t say how those taxes are going to go up.

Did you see how?

 

[Weatherman2020]

I read the article and it seems to me they don’t say how those taxes are going to go up.

Did you see how?

If you educated yourself you’d be a conservative.


In a new analysis, the Tax Policy Center estimates that the major tax changes in the latest version of President Biden’s Build Back Better plan would cut taxes on average for nearly all income groups in 2022. The exception: Those in the top 1 percent, who will make about $885,000 or more. They’d pay about $55,000 more than under current law. Those in the top 0.1 percent, who make about $4 million and up, would pay an additional $585,000 on average, a 5.9 percent reduction in their after-tax income.

The picture would change somewhat in 2023. Among the reasons: The bill would extend the 2021 expansions of the Child Tax Credit (CTC) for 2022 only. In addition, one of the major tax increases in the bill, the corporate minimum tax on book income, isn’t scheduled to take effect until 2023. TPC allocates corporate taxes to households, as investors and workers.

In general, the combined effects of these changes would result in many households paying higher taxes in 2023 than in 2022. They would shrink the average 2023 tax cuts for low-income households, raise taxes slightly for moderate-income households, and increase taxes significantly for the highest-income households.

The story would change again in 2026. All of the individual income tax provisions of the 2017 Tax Cuts and Jobs Act currently are scheduled to expire at the end of 2025. Households also would be affected by the bill’s proposed revisions in the state and local tax (SALT) deduction cap. Finally, there would be significant changes in revenues collected from multinational corporations.

 

[Rye Catcher]

If you educated yourself you’d be a conservative.


In a new analysis, the Tax Policy Center estimates that the major tax changes in the latest version of President Biden’s Build Back Better plan would cut taxes on average for nearly all income groups in 2022. The exception: Those in the top 1 percent, who will make about $885,000 or more. They’d pay about $55,000 more than under current law. Those in the top 0.1 percent, who make about $4 million and up, would pay an additional $585,000 on average, a 5.9 percent reduction in their after-tax income.

The picture would change somewhat in 2023. Among the reasons: The bill would extend the 2021 expansions of the Child Tax Credit (CTC) for 2022 only. In addition, one of the major tax increases in the bill, the corporate minimum tax on book income, isn’t scheduled to take effect until 2023. TPC allocates corporate taxes to households, as investors and workers.

In general, the combined effects of these changes would result in many households paying higher taxes in 2023 than in 2022. They would shrink the average 2023 tax cuts for low-income households, raise taxes slightly for moderate-income households, and increase taxes significantly for the highest-income households.

The story would change again in 2026. All of the individual income tax provisions of the 2017 Tax Cuts and Jobs Act currently are scheduled to expire at the end of 2025. Households also would be affected by the bill’s proposed revisions in the state and local tax (SALT) deduction cap. Finally, there would be significant changes in revenues collected from multinational corporations.

You didn't answer the question.:
"I read the article and it seems to me they don’t say how those taxes are going to go up."

"Did you see how?"

Post #5 above.

Prove that you're not a damn liar. Post wherein the BBB policy will benefit the wealthy.

 

[colfax_m]

If you educated yourself you’d be a conservative.


In a new analysis, the Tax Policy Center estimates that the major tax changes in the latest version of President Biden’s Build Back Better plan would cut taxes on average for nearly all income groups in 2022. The exception: Those in the top 1 percent, who will make about $885,000 or more. They’d pay about $55,000 more than under current law. Those in the top 0.1 percent, who make about $4 million and up, would pay an additional $585,000 on average, a 5.9 percent reduction in their after-tax income.

The picture would change somewhat in 2023. Among the reasons: The bill would extend the 2021 expansions of the Child Tax Credit (CTC) for 2022 only. In addition, one of the major tax increases in the bill, the corporate minimum tax on book income, isn’t scheduled to take effect until 2023. TPC allocates corporate taxes to households, as investors and workers.

In general, the combined effects of these changes would result in many households paying higher taxes in 2023 than in 2022. They would shrink the average 2023 tax cuts for low-income households, raise taxes slightly for moderate-income households, and increase taxes significantly for the highest-income households.

The story would change again in 2026. All of the individual income tax provisions of the 2017 Tax Cuts and Jobs Act currently are scheduled to expire at the end of 2025. Households also would be affected by the bill’s proposed revisions in the state and local tax (SALT) deduction cap. Finally, there would be significant changes in revenues collected from multinational corporations.

The only thing I’m seeing here is that the child tax credit that was expanded for just 2021 wouldn’t be made permanent?

is that right?