Biden Considers Massive Tax Hike for America

Biden Considers Major Tax Hike for America

(TargetLiberty.org) – President Biden has been criticized for saddling US taxpayers with massive amounts of debt to pay for his $1.9-trillion COVID-19 spending package. Now he’s changing course slightly. He isn’t going to rein in his incontinent spending, though – instead, reports say he’s going to push through the first major tax hike since 1993.

Sources inside the Treasury say the Biden administration is planning a tax raid on a scale that hasn’t been seen since Bill Clinton’s first term. Biden wants to spend the money on his green agenda, and according to a November report from the Tax Policy Center, such an initiative could bring in more than $2 trillion in the next ten years. The problem is, that’s money the government would be taking out of the economy – right at the moment we need to get it running again after the COVID pandemic.

The Treasury sources say Biden’s looking at increasing our already high corporation tax rates, which will push up prices and slow business expansion, as well as push up higher rates for taxpayers. It looks like nobody except lawyers and tax consultants will be getting rich for the next four years.

Copyright 2020, TargetLiberty.org