Democrats raising taxes on the majority of Americans

New: The nonpartisan Joint Committee on Taxation (JCT) estimates the Schumer/Manchin bill will hit Americans in every income bracket, with more than half of the tax increases on people making less than $400,000 per year.

Reminder: that these tax hikes on families making $30,000/year are intended to fund tax credits so families making $300,000 can buy cheaper electric cars.

The libtard politicians giving the finger to the lower and middle class once again

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.

“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,” Crapo continued. “Non-partisan 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. It’s no wonder this bill, which was drafted behind closed doors, is being rushed through the Senate at record pace.

https://www.finance.senate.gov/ranki...-of-americans-

It was always a huge lie like basically everything that a libtard politician says

Senile Biden promised no tax hikes if you make less than $400K per year

The “Inflation Reduction Act” raises taxes for everyone making over $30K per year





https://www.finance.senate.gov/imo/m...uction_act.pdf

Inflation is a huge tax hike on the poor and middle class.

... No worrys there, mates.

President Biden is gonna "build back better" ...

Though he better get started - as his-own presidency
will surely be over soon... When he's forced to step-down.

... So THIS is the bloke who got 81 million "votes"??

See? ... "Elections surely DO have Consequences"...

#### Salty

But looking at that link- that increase is actually not very big; 1.0 -1.4% ---fuck people might spend more than that in the city on the drink taxes or the hotel room tax! How about when PA allowed Allegheny and Philly add an extra 1% sales tax on goods. WTF- how did that just happen and nobody fucking batted an eye. Or how about your local school taxes, or assessments on property owners. Or is it only because it's from Biden that you are bitching about it. The folks at the 500k to over a million are getting 1.7 to 1.9% increases; which in all honesty, should likely be larger as a fair application. I'm not a proponent of taxation generally, and we are all paying way more than is agreeable. I don't have kids in school anymore, but my fucking school tax is just ridiculous to live in a nice neighborhood. I once looked at a house in Fox Chapel area, and while the house was reasonably priced back in 2012- the taxes on a 300k place were well over 12k annually. Just for the priveledge to live there. No thanks.. PASS.

Tax write offs and tax codes need a revamp.

.... Hmmmm... Now THAT'S a good point.

Yes, the Biden people are Raising Taxes... But here in PA
the state legislature is growing more Republican by the day
- at least in Western PA...

So HOW will the Republicans here address the Tax Increase?
Will they work against it - or gladly smile and rake it in?

Surely will be interesting to see.

#### Salty

But looking at that link- that increase is actually not very big; 1.0 -1.4% ---fuck people might spend more than that in the city on the drink taxes or the hotel room tax! How about when PA allowed Allegheny and Philly add an extra 1% sales tax on goods. WTF- how did that just happen and nobody fucking batted an eye. Or how about your local school taxes, or assessments on property owners. Or is it only because it's from Biden that you are bitching about it. The folks at the 500k to over a million are getting 1.7 to 1.9% increases; which in all honesty, should likely be larger as a fair application. I'm not a proponent of taxation generally, and we are all paying way more than is agreeable. I don't have kids in school anymore, but my fucking school tax is just ridiculous to live in a nice neighborhood. I once looked at a house in Fox Chapel area, and while the house was reasonably priced back in 2012- the taxes on a 300k place were well over 12k annually. Just for the priveledge to live there. No thanks.. PASS.

Tax write offs and tax codes need a revamp. Originally Posted by eyecu2

Any tax increase while we are in the midst of a recession and ridiculously high inflation is terrible. And Senile Biden promised no new taxes on anyone making less than $400,000. As usual he lied.

The nonpartisan Joint Committee on Taxation finds the Libtards new climate “deal” will be raise taxes on nearly every American and in particular be a $16.7 billion tax increase on Americans making less $200K. Let me repeat that - $16.7 billion

As to all the other BS you try to change the subject to - feel free to start your own thread about property taxes or PA sales tax. I will be happy to discuss it there - but this thread is about Senile Biden and the Democrats working to pass a falsely named "inflation Reduction Act" bill that will raise taxes on nearly all Americans - and do nothing to reduce inflation

"Statistically Indistinguishable From Zero": Wharton Study Finds 'Inflation Reduction Act' Has No Impact On Inflation

https://www.zerohedge.com/political/...ion-act-has-no

But looking at that link- that increase is actually not very big; 1.0 -1.4% ---fuck people might spend more than that in the city on the drink taxes or the hotel room tax! How about when PA allowed Allegheny and Philly add an extra 1% sales tax on goods. WTF- how did that just happen and nobody fucking batted an eye. Or how about your local school taxes, or assessments on property owners. Or is it only because it's from Biden that you are bitching about it. The folks at the 500k to over a million are getting 1.7 to 1.9% increases; which in all honesty, should likely be larger as a fair application. I'm not a proponent of taxation generally, and we are all paying way more than is agreeable. I don't have kids in school anymore, but my fucking school tax is just ridiculous to live in a nice neighborhood. I once looked at a house in Fox Chapel area, and while the house was reasonably priced back in 2012- the taxes on a 300k place were well over 12k annually. Just for the priveledge to live there. No thanks.. PASS.

Tax write offs and tax codes need a revamp. Originally Posted by eyecu2

so your defense is that its not that much of a tax increase?

when the dipshit promised no tax increase on the middle class?

amazing, you should work for joe

You can't blame Joe, he's mentally gone, blame the people who run him.

Anyone dumb enough to believe ANY politician that says "No New Taxes" or "No Tax Increases" is part of the problem. If they're not taxing you directly, they're getting the money from you in some other way.

Inflation is a huge tax hike on the poor and middle class. Originally Posted by snoopy75

You are correct. So we have a triple whammy now thanks to the Democrats

1. Inflation over 9%
2. Taxes raised on nearly all Americans
3. A recession

It would be very hard to screw the American people more than this - but Senile Biden and the Democrats keep finding new ways to screw everyday Americans

I’m down with raising taxes on the poor. They use all the services, it’s only fair they contribute. None of this paycheck withholding bullshit, let them write a check like those of us in the real world have to.

Families earning less than $400,000, according to Joe Biden were not going to pay even “a dime of new taxes” under his tax plan.

This was Joe Biden’s signature promise. It was the 2020 campaign’s equivalent to George H W Bush’s “read my lips, no new taxes” pledge back in 1988.

Anyone who believed Joe probably deserves to pay more taxes.

Anyway, here are the facts. Congress’s official budget and tax scorekeeper, the Joint Committee on Taxation, finds taxes rising in every income bracket. It’s a big whack at the lower and middle-class Americans.

On the table we just need the first two columns and lose the footnotes.