Guess what America, this train wreck known as the Democrats in charge of everything is about to head straight off the rails into a full blown crazy train. That’s right, more taxes are coming to pay for those blue states who have all of those hard workers (sarcasm) to pay for.
Joe Biden and his administration have now signed the $1.9 Trillion COVID “relief” bill, which let’s be honest it’s not much relief. In fact, 90% of it doesn’t go to the American people, how cool is that?
On Thursday, Biden’s now looking at another $4 trillion spend-a-thon of your hard earned tax dollars. Of course enough to cover those Blue States and their bail outs.
“The planned changes include: raising the corporate tax rate to 28% from 21%, raising the income tax rate on individuals earning more than $400,000, expanding the estate tax, creating a higher capital-gains tax rate for individuals earning at least $1 million annually and paring back tax preferences for so-called pass-through businesses,” Fox Business reported.
Bloomberg had this to say about it.
“With each tax break and credit having its own lobbying constituency to back it, tinkering with rates is fraught with political risk.”
“That helps explain why the tax hikes in Bill Clinton’s signature 1993 overhaul stand out from the modest modifications done since.”
“For the Biden administration, the planned changes are an opportunity not just to fund key initiatives like infrastructure, climate and expanded help for poorer Americans, but also to address what Democrats argue are inequities in the tax system itself.”
Sounds exciting doesn’t it? Just watching the country being flushed down the proverbial toilet.
“The numbers boggle the mind: $195 billion goes to states with no strings attached (except, of course, to ban tax cuts),” the Post reported. “There’s $130 billion for reopening K-12 schools with no requirement they reopen. Another $25 billion for public housing and $20 billion for public transit. All in, America’s states and cities are seeing a direct windfall north of half a trillion dollars,” The New York Post reported.
What are your thoughts America, ready to add another $4 trillion to the $2 trillion these clowns in D.C. just added to our debt?