Most Americans will feel tax pain from Dem inflation bill despite Biden's past promises: analysis

m.knox

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The Joint Committee on Taxation said so....

https://www.foxbusiness.com/politic...m-inflation-bill-despite-bidens-past-promises

"The more this bill is analyzed by impartial experts, the more we can see Democrats are trying to sell the American people a bill of goods," Senate Finance Committee ranking member Mike Crapo, R-Idaho, said in a statement Saturday. "Nonpartisan analysts are confirming this bill raises taxes on the middle class and produces no meaningful deficit reduction when gimmicks are removed and the full cost is accounted for."

However, Biden has repeatedly pledged that Americans earning less than $400,000 per year would not experience any tax increase during his presidency. The president originally made the pledge during his 2020 campaign.
 

Online Persona

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The Joint Committee on Taxation said so....

https://www.foxbusiness.com/politic...m-inflation-bill-despite-bidens-past-promises

"The more this bill is analyzed by impartial experts, the more we can see Democrats are trying to sell the American people a bill of goods," Senate Finance Committee ranking member Mike Crapo, R-Idaho, said in a statement Saturday. "Nonpartisan analysts are confirming this bill raises taxes on the middle class and produces no meaningful deficit reduction when gimmicks are removed and the full cost is accounted for."

However, Biden has repeatedly pledged that Americans earning less than $400,000 per year would not experience any tax increase during his presidency. The president originally made the pledge during his 2020 campaign.
He already violated that promise. Record inflation is the worst tax government can impress on the low and middle class. Anything democrats do on top of that is just cruel and unusual punishment of the people. They've already driven tens of millions into poverty this year alone. That isn't enough?
 

m.knox

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He already violated that promise. Record inflation is the worst tax government can impress on the low and middle class. Anything democrats do on top of that is just cruel and unusual punishment of the people. They've already driven tens of millions into poverty this year alone. That isn't enough?

Good point. Destroyocrats in action.
 
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2lion70

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The Joint Committee on Taxation said so....

https://www.foxbusiness.com/politic...m-inflation-bill-despite-bidens-past-promises

"The more this bill is analyzed by impartial experts, the more we can see Democrats are trying to sell the American people a bill of goods," Senate Finance Committee ranking member Mike Crapo, R-Idaho, said in a statement Saturday. "Nonpartisan analysts are confirming this bill raises taxes on the middle class and produces no meaningful deficit reduction when gimmicks are removed and the full cost is accounted for."

However, Biden has repeatedly pledged that Americans earning less than $400,000 per year would not experience any tax increase during his presidency. The president originally made the pledge during his 2020 campaign.
What specifics do you have to support your claim. Using Crapo as a source is crap. What part of the bill raises taxes - need actual facts. Simply repeating what partisan folks claim isn't enough.
 

m.knox

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Lion84

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What specifics do you have to support your claim. Using Crapo as a source is crap. What part of the bill raises taxes - need actual facts. Simply repeating what partisan folks claim isn't enough.
The Joint Committee on Taxation is non-partisan for your information.
 

2lion70

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The Joint Committee on Taxation is non-partisan for your information.
Okay then tell me where those tax increases are for folks making <$400k. Where are the tax increases and who do they impact?
Facts, not theories.....
 

m.knox

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You always make bold statements but can never provide facts to back them up. Did you get a degree from Trump U and study under 'the Kraken'?

I just provided you the report that is the subject of the OP..... Because you are too lazy to find it yourself. Now you are too lazy to read it.

Typical democrat.
 

2lion70

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I just provided you the report that is the subject of the OP..... Because you are too lazy to find it yourself. Now you are too lazy to read it.

Typical democrat.
Give the specific portion of the Bill that supports your claim. You made the big splash with a bold post - now bck it up with facts.
I don't expect you will have any facts, you never do - only wild accusations. What a phony you are. Just like Trump, Guiliani, and the rest of his crack 'legal' team. Lots of theory - no facts.
 

m.knox

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Give the specific portion of the Bill that supports your claim. You made the big splash with a bold post - now bck it up with facts.
I don't expect you will have any facts, you never do - only wild accusations. What a phony you are. Just like Trump, Guiliani, and the rest of his crack 'legal' team. Lots of theory - no facts.

I gave you the entire report... LOL...

The report has the facts. Read the facts and stop being an entitled lazy whining democrat.
 

m.knox

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JCT: Democrats’ Proposals Increase Taxes on Millions of Americans​


https://www.finance.senate.gov/rank...sals-increase-taxes-on-millions-of-americans-

According to JCT:

  • In 2023, taxes will increase by $16.7 billion on American taxpayers earning less than $200,000—a nearly $17 billion tax targeted solidly at low- and middle-income earners next year, amidst stagflation.
    • The $17 billion hit alone is confirmation that the Biden pledge to not raise taxes on anyone earning less than $400,000 is shattered by the latest tax-and-spend bill.
    • The proposal would raise another $14.1 billion from taxpayers earning between $200,000 and $500,000.
    • According to JCT data, 98 percent of all tax returns filed by those in the $200,000 to $500,000 category are filed by those earning between $200,000 and $400,000, with at least three-fourths of the income in the $200,000 to $500,000 category also coming from those below $400,000, meaning it is likely that at least half of all new tax revenue raised next year would come from those earning under $400,000.
  • Throughout the ten-year window, the average tax rate for nearly every single income category would increase.
  • By 2031, when the new green energy credits and subsidies provide an even greater benefit to those at higher incomes, those earning below $400,000 are projected to bear as much as two-thirds of the burden of the additional tax revenue collected that year.