Nobody making less than 400K will see any new taxes. Oh really?

[Ray From Cleveland]

President Biden and congressional Democrats imposed a long list of tax increases as part of their “Inflation Reduction Act” passed in 2022.


On Jan. 1, 2023 the following Democrat tax hikes will take effect:

$6.5 Billion Natural Gas Tax Which Will Increase Household Energy Bills


Think your household energy bills are high now? Just wait until the three major energy taxes in the Inflation Reduction Act hit your wallet. The first is a regressive tax on American oil and gas development. The tax will drive up the cost of household energy bills. The Congressional Budget Office estimates the natural gas tax will increase taxes by $6.5 billion.

$12 Billion Crude Oil Tax Which Will Increase Household Costs


Democrats are imposing a 16.4 cents-per-barrel tax on crude oil and imported petroleum products that will be passed on to consumers in the form of higher gas prices.

$1.2 Billion Coal Tax Which Will Increase Household Energy Bills


The tax hike more than doubles the current excise taxes on coal production. Under the Democrat proposal, the tax rate on coal from subsurface mining would increase from $0.50 per ton to $1.10 per ton while the tax rate on coal from surface mining would increase from $0.25 per ton to $0.55 per ton.


JCT estimates that this will raise $1.2 billion in taxes that will be passed on to consumers in the form of higher electricity bills.

$74 Billion Stock Tax Which Will Hit Your Nest Egg — 401(k)s, IRAs and Pension Plans


When Americans choose to sell shares of stock back to a company, Democrats will impose a new federal excise tax which will reduce the value of household nest eggs. Raising taxes and restricting stock buybacks harms the retirement savings of any individual with a 401(k), IRA or pension plan.

List of Biden Tax Hikes Hitting Americans on Jan. 1 - Americans for Tax Reform

President Biden imposed a long list of tax hikes as part of the "Inflation Reduction Act." These Biden tax hikes take effect on Jan. 1:

www.atr.org

Now aren't you glad you make less than 400K a year? I know I am.

 

[Independent thinker]

President Biden and congressional Democrats imposed a long list of tax increases as part of their “Inflation Reduction Act” passed in 2022.


On Jan. 1, 2023 the following Democrat tax hikes will take effect:

$6.5 Billion Natural Gas Tax Which Will Increase Household Energy Bills


Think your household energy bills are high now? Just wait until the three major energy taxes in the Inflation Reduction Act hit your wallet. The first is a regressive tax on American oil and gas development. The tax will drive up the cost of household energy bills. The Congressional Budget Office estimates the natural gas tax will increase taxes by $6.5 billion.

$12 Billion Crude Oil Tax Which Will Increase Household Costs


Democrats are imposing a 16.4 cents-per-barrel tax on crude oil and imported petroleum products that will be passed on to consumers in the form of higher gas prices.

$1.2 Billion Coal Tax Which Will Increase Household Energy Bills


The tax hike more than doubles the current excise taxes on coal production. Under the Democrat proposal, the tax rate on coal from subsurface mining would increase from $0.50 per ton to $1.10 per ton while the tax rate on coal from surface mining would increase from $0.25 per ton to $0.55 per ton.


JCT estimates that this will raise $1.2 billion in taxes that will be passed on to consumers in the form of higher electricity bills.

$74 Billion Stock Tax Which Will Hit Your Nest Egg — 401(k)s, IRAs and Pension Plans


When Americans choose to sell shares of stock back to a company, Democrats will impose a new federal excise tax which will reduce the value of household nest eggs. Raising taxes and restricting stock buybacks harms the retirement savings of any individual with a 401(k), IRA or pension plan.

List of Biden Tax Hikes Hitting Americans on Jan. 1 - Americans for Tax Reform

President Biden imposed a long list of tax hikes as part of the "Inflation Reduction Act." These Biden tax hikes take effect on Jan. 1:

www.atr.org

Now aren't you glad you make less than 400K a year? I know I am.

And that doesn't even include the increased "taxes" through democratic inflation.

 

[Marener]

Democrats are imposing a 16.4 cents-per-barrel tax on crude oil and imported petroleum products that will be passed on to consumers in the form of higher gas prices.

Just to be clear, tariffs are now taxes on working class Americans?

 

[leftwinger]

Hidden Taxes. Such as helping younger Children with Rent. Poor relatives that sink even lower. Those with money and a big heart are again forced to "share the wealth" just like during Obiden 1.0. Many went from millionaire to 1/2 millionaire in the 2nd year of this finally successful COUP. Thats' what is was and all know it. No way to sugar-coat the mess we are now deeply in.

Trump had the bottom rising up. Those that wanted to make money could. Inner city Blacks were working. Mexican immigrants were thriving (home building jobs, landscape etc.). Trades like Electrician, truck driver, plumber, welder...........Pipelines, Energy plants.......everyone does better when working.

 

[Ray From Cleveland]

Just to be clear, tariffs are now taxes on working class Americans?

It is a tax, not a tariff. And who pays for all these taxes? That's right, you and I, the little people. The rich, the poor, and everybody in between pays it. That is of course you want to claim you don't have a car but have a windmill in your backyard to generate your own electricity.

These are hidden taxes most people don't realize they are paying for. That's because a majority of people are not willing to pay more money for all this green BS. Notice in the SOTU speech how Dementia said we will need fossil fuels for the next ten years? Big 180 when he was on the campaign trail stating he will end fossil fuels.

 

[Marener]

It is a tax, not a tariff. And who pays for all these taxes? That's right, you and I, the little people. The rich, the poor, and everybody in between pays it. That is of course you want to claim you don't have a car but have a windmill in your backyard to generate your own electricity.

These are hidden taxes most people don't realize they are paying for. That's because a majority of people are not willing to pay more money for all this green BS. Notice in the SOTU speech how Dementia said we will need fossil fuels for the next ten years? Big 180 when he was on the campaign trail stating he will end fossil fuels.

Tariffs are taxes on imported goods.

That's exactly what you described. A tax on imported crude and petroleum products.

So tariffs are taxes on working class Americans, then. Right?

 

[Ray From Cleveland]

Tariffs are taxes on imported goods.

That's exactly what you described. A tax on imported crude and petroleum products.

So tariffs are taxes on working class Americans, then. Right?

It's a tax on all oil no matter where it came from. You can't tax oil from certain places as oil is a worldwide commodity. You either tax it all or none at all.

 

[Marener]

It's a tax on all oil no matter where it came from. You can't tax oil from certain places as oil is a worldwide commodity. You either tax it all or none at all.

False. It's a tax on imported crude.

Oil fee​

“There's a 16.4 percent tax on imported barrels of oil that are going to increase cost at the gas pump,” warned Sen. Lindsey Graham (R-S.C.) on CNN's State of the Union on Sunday, Aug. 7.

The Surprising Oil Tax in the Inflation Reduction Act

President Biden has made reducing gas prices paramount in his administration, so it was likely a surprise to hear a Republican senator last Sunday warn TV viewers that a revived and increased oil fee in the climate bill will increase their gas costs.

www.planetizen.com