Joe Biden’s spending agenda built into his Build Back Better program (The Great Reset) will raise the average top tax rate for income taxes in the US to the highest level in the industrialized world, so says an analysis by the Tax Foundation.
We will be zeros on competitiveness. Biden’s Build Back Better will destroy our wealth and is the grandest wealth redistribution ever conceived.
According to the analysis, the $1.75 trillion bill that is right now in the House will end up increasing the average tax rate on personal income to 57.4%, which would make it the highest among the 38 members of the Organisation for Economic Co-operation and Development (OECD).
The current national average top tax rate is 42.9%. That current rate is actually right in the middle when you compare to other OECD.
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Biden’s new rate will make the US even higher than the top three countries in OECD: Japan @ 57.4%, Denmark @ 55.9%, and France @ 55.4%.
Blue states like California @ 64.7%, New Jersey @ 63.2%, and New York @ 66.2% would be even higher than the nationwide average according to analysis.
That is only FEDERAL TAXES. Don’t forget 47%+ don’t pay much or nothing at all. The wealthy already pay their fair share and more.
Biden’s plan will even hurt workers in low-tax states like Texas and Washington by making them face a top rate of 51.4% thanks to the federal increase.
Biden is thinking about bringing back the loophole for rich friends in progressive states. The rich states have been able to write off their high taxes, leaving poorer states to take on a larger burden. It hides the high taxes and the rich states don’t have to pay.
President Donald Trump removed that loophole because he saw that it was unfair. Democrats have ranted ever since.
The Tax Foundation said that other factors will cause the average income tax rate to rise as well.
Don’t be a New World Order dupe! This Great Reset is the new Totalitarianism.
If something looks crazy to you, trust your gut. It is. The Danish lawmaker who said you will own nothing and be happy under the Great Reset is Ida Auken. It’s their slogan and their motto is “Build Back Better.” So, when Biden pushes Build Back Better, this is what he is saying. You will own nothing and the rich will own everything and tell you what to do in every aspect of your life.
BREAKING pic.twitter.com/HDtKpNfTxP
— Wag the Poso (@JackPosobiec) November 9, 2021
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