Figurehead President Joe Biden just unveiled a massive $7.3 trillion budget with $5.5 trillion in tax hikes. It represents the highest taxes in US history. This is your first taste of what communism will look like under one-party Democrat rule. These are not JFK Democrats.
Democrats obviously aren’t afraid they will lose the election in November.
Biden wants to tax the wealthy and add more welfare. He is talking about a wealth tax and price controls, which is what Venezuelan President Maduro did when he took over Venezuela.
Biden’s election-year budget raises rates for prosperous companies, including making billionaires pay a minimum 25% tax rate in addition to all the taxes they pay now.
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Biden’s $7.3 trillion proposal for fiscal year 2025 would allegedly reduce the federal deficit by three trillion, but this is as he raises it by trillions.
A senior fellow at the Manhattan Institute said the new budget will result in the highest taxes ever in the United States.
“Not only is the president raising taxes but he’s using a substantial portion of it for new spending rather than deficit reduction, which just means even bigger tax hikes down the road when it’s time to rein in the deficit.”
The dementia patient in the Oval Office mentioned this during his State of the Union address. He said, “You know there are 1000 billionaires in America. You know what the average federal tax is for these billionaires? They are making great sacrifices: 8.2 percent.” Biden said with a sneer.
That’s not true. They pay other taxes. This is ridiculous. The idea of an 8% tax rate was made up by White House operatives.
You think we have inflation, debt, and welfare now, wait!
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