A recent report from Bloomberg is shedding new light on Joe Biden’s economic agenda for the United States; claiming the President is preparing the “first major tax hike” since 1993 as the country struggles to recover from the CoVID-19 pandemic.
“President Joe Biden is planning the first major federal tax hike since 1993 to help pay for the long-term economic program designed as a follow-up to his pandemic-relief bill, according to people familiar with the matter,” writes Bloomberg.
“Unlike the $1.9 trillion Covid-19 stimulus act, the next initiative, which is expected to be even bigger, won’t rely just on government debt as a funding source. While it’s been increasingly clear that tax hikes will be a component — Treasury Secretary Janet Yellen has said at least part of the next bill will have to be paid for, and pointed to higher rates — key advisers are now making preparations for a package of measures that could include an increase in both the corporate tax rate and the individual rate for high earners,” adds the economic website.
Read the full report here.
Of course gotta finish what THEY started…gulf war, clintons theft of social security equity, 911 patriot act, gulf war II, obamas shove it ready jobs, placement of interlopers, trump f ed it all up, but they colluded with china for covid and trillions later the house of cards is tetering….next crisis will be fiscal devesation…
If the true object were to raise revenue and collect more tax money then tax rates should be cut, not raised. This has been proven since at least 1962 when JFK reduced tax rates tremendously and, surprise, surprise, government income jumped. It’s just like when Maryland raises cigarette taxes and gets less revenue, not more.
Unfortunately, the true object is not to raise revenue but to control people’s lives.
Hey Democrats elections have consequences!!
Joe Biden isn’t “preparing” anything except to take another highly paid nap. He’s an empty suit in need of a drool bib. Preparations are being made by nameless people who shouldn’t be doing what they’re doing.
Jill is looking forward to getting Joe’s senate and presidential retirement checks one he fades away. Hunter’s contributions, too.
Joe Biden is a damned old fool that is listening to the wrong people. We all know he never has had an original thought but letting the far far left do all the talking is ruining our country.
Yay Biden voters???? How ya’ll feeling about your boy? No mean tweets tho right?? ?
the dumbass has spoken
Biden is going to cause the First Major Revolution & Civil War in Years !!!!! 2021
The election was stolen by communist traitors
I like BIDEN”S / Democrats big con.
This$400 thousand cap is a joke , since all the millionaires including Politians uses deductions to lower their income.
They done nothing, since they never closed the loopholes which allow them to not have their taxes raised.
Also they will raise their cost to the consumer, which will raise consumer cost and they will make more money.
Who are they idiots? They do this, since they know the US citizens knows nothing about ECOMOMICS 101
How stupid are you idiots?