Let’s just tax the rich say the progressives. No one making less than $400,000 a year will see an increase in taxes. This bill costs zero!
- The Tax Foundation says 21% of smokers earn less that $35,000 a year, the new excise tax on tobacco burden the lowest income earners 37 times as much as equivalent funds raised through income taxes. They also say as corporations pay more tax, they hire less, lower wage increases, reduce benefits. Teh middle class may not have a higher tax rate but their costs to live will go up.
- “Fair Share” What the hell does that mean. 50% of the population pay NO income tax, ZERO. The myth that countries like Finland are the model neglects to point out their income and social security taxes are the same as or higher than ours. Most people pay taxes versus our current arrangement. The US has the most progressive tax system of the OECD countries. https://taxfoundation.org/scandinavian-countries-taxes-2021/
- Zero? Depending on who you listen to the taxes raised don’t come close to covering the 5.5 trillion, not even close to 3.5 trillion. Does raising taxes affect the economy? Well sure they do, JFK began lowering taxes in the 60’s and the economy started a 50 year increased growth rate. When the economy doesn’t grow well, think of the EU versus the US, wages don’t go up, promotions are limited, investment is lower, new company creation is lower. How many times must we see countries who think government control is better than private enterprise fail to provide the citizen with a way out of poverty.
The progressives are lying to us. They want something for nothing and the power to control our lives, telling us what is good for us. Are there some good ideas in the bill, yes. Putting all the cost on the feds only grows the ineffective bureaucracy, we want more of the failed federal government control? More uncontrolled borders? More waste?