Middle Class Gets 2 Suck On Tip Of Biden’s Tax Iceberg

Tax hikes are usually seen as a “suicide pact” among the conspirators & WSJ suggests Dems are falling on their sword in “Here Comes the Biden Tax Bill.”

Well, somebody has to pay for the progressives’ “cradle-to-grave” plan to spend $3.5 trillion dollars on the fantastic agenda faster than FDR dreamed up the New Deal (but took two terms to get some parts enacted). But, as the editors point out, the Dem Plan 2021 “marches House Dems to the political gallows” because – no matter how they try to spin it – Middle Class INDIVIDUALS & SMALL BUSINESSES will bear the brunt of their $2.2 trillion “money grab for the ages.”

First, Families as the Swamp’s latest suckers in waiting. “Dems want to tax more of their income [via] a top individual tax rate that will rise to 39.6% from 37% … [AND] … will kick in at a modest $400K. Then, Dems “want more than 40% if you include the 1.45% Medicare payroll tax & 3.8% ObamaCare surcharge on any investment investment income. Corporations may be hit hard with a “$900 billion fleecing, with the top tax rate rising to 26.5% from 21%,” BUT, wait, corporations are a legal “fiction” that “pass through” such taxes to CONSUMERS & workers (via reduced salaries/benefits). The WSJ editors save their biggest disgust for Biden's new taxes on Small Businesses. The ma & pa grocery stores will not only pay that higher top individual rate, but get double-whammied with another new 3.8% surtax on “small business income” coupled the elimination of the 20% deduction on qualified business income.”

This, folks, is only the tip of the Biden tax iceberg. Suck on that Big One for a minute.

Davd Soul