House Democrats have outlined plans to… (you guessed it) …RAISE TAXES!!!
This particular hike is aimed at the top-earning people in America – individuals making over $400,000 or couples filing jointly making over $450,000.
Democrats boast the increase would restore the top marginal tax rate to the same level it was before the 2017 tax cuts and raise the government $170 billion.
Also included in the pitch is to increase the capital gains rate for high earners from 20% to 25%. They’re using Biden’s proposed rate of 39.6% to make a five percent jump seem not so bad.
It’s a cycle that never ends, the democrats spend too much, and now they’re looking for a way to balance their books. A tale as old as time.
More examples of tax increases can be found in the article linked to below.
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