Your Network and Source for National Gun News

The Harris-Biden Tax Plan Means Reverting to Obama’s Bad Old Days

If the tax-raising duo of Harris and Biden limp into the White House with the help of a dishonest and fawning media, the battle to redistribute American wealth will recommence.

Hold on to your wallets, folks. Kamala and Joe’s, with the full support of their tax-and-spend Democrat allies’, first order of business will be to roll back President Trump’s 2017 tax cuts. It’s a reprise of the same old sad song about how the wealthy aren’t paying their fair share.

Here’s what Kamala’s running mate Joe said on the subject: “Let me tell you why I’m going to (cancel the tax cut)” Biden said. “It’s about time they start paying a fair share of the economic responsibility we have. The very wealthy should pay a fair share — corporations should pay a fair share.”

According to Joe Biden and Democrats, who mostly haven’t had to actually work for a living, “fair share” is an exceedingly flexible notion. The numbers tell the story:

–The top 1 percent of income earners kicked in over 37.3% of all income taxes paid in 2019. Here’s an example: If 10 people went out to dinner and split the $100 check, the rich guy in the group would pay $37.30. The remaining 9 would pay about $7. Under Joe’s plan, the rich guy should, in the name of fairness, also pay the tip in full.

–And how about this sad statistic from the Tax Foundation: the bottom 50% of wage earners paid a measly 3% of all income taxes collected in 2016.

So, in the name of fairness, Joe Biden wants to restore everyone’s taxes to Obama administration levels. Never mind we suffered a prolonged recovery under Obama, spanning 8 years, because of his economic incompetence. It was the Trump tax cuts and deregulation that sent unemployment to record lows, wages to go up, and caused the stock market to soar.

And the average taxpayer, which Crazy Nancy likes to refer to as “crumb catchers,” had their tax liability lowered to 12.5%, 11.5%, and 10.96%, depending on their income.

Also, business owners can bank on paying more if Biden wins. The Trump tax bill slashed the corporate tax rate by 7% to 21%. Guess who will be billed for the extra money businesses have to pay. It will, of course, be consumers.

Democrats seem to be either ignorant or just don’t care how taxes affect the behavior of those who have to pay them. People—especially high-income earners—alter their economic behavior in terms of what they buy, whom they hire, or where they invest. That behavior often is disadvantageous to others who depend on discretionary spending that stimulates job and other economic activity.

Joe Biden likes to pose as a regular guy who just loves small business owners. His tax plan, however, is far from friendly to that sector. President Trump’s tax bill dropped capital gains business taxes from 37% to 29.6%.

Small business owners provide thousands of jobs. If Biden has his way, small business tax rates will force a new series of layoffs to kick back in and stall the economic recovery Democrats are desperate to avoid.

Joe and company have their own dopey, generic, and plagiaristic “Build Back Better” jobs and economic recovery plan. Its capstone is more money to just about everyone. And, yes, there’s that brilliant idea of promoting millions of well-paying union clean energy jobs that, if only given the chance, Joe and Barack would have brought about—except for the fact that they supervised the slowest economic recovery in the history of our nation.


Most Popular

These content links are provided by Content.ad. Both Content.ad and the web site upon which the links are displayed may receive compensation when readers click on these links. Some of the content you are redirected to may be sponsored content. View our privacy policy here.

To learn how you can use Content.ad to drive visitors to your content or add this service to your site, please contact us at [email protected].

Family-Friendly Content

Website owners select the type of content that appears in our units. However, if you would like to ensure that Content.ad always displays family-friendly content on this device, regardless of what site you are on, check the option below. Learn More



Most Popular
Sponsor Content

These content links are provided by Content.ad. Both Content.ad and the web site upon which the links are displayed may receive compensation when readers click on these links. Some of the content you are redirected to may be sponsored content. View our privacy policy here.

To learn how you can use Content.ad to drive visitors to your content or add this service to your site, please contact us at [email protected].

Family-Friendly Content

Website owners select the type of content that appears in our units. However, if you would like to ensure that Content.ad always displays family-friendly content on this device, regardless of what site you are on, check the option below. Learn More

7 Comments
  1. Bemused Berserker says

    Hoover Harris didn’t “work” for a living either. Mistress is not a job description.

    1. Rand says

      Mistress??? Prostitute, that is her “profession”. She “worked under Willie Brown” for a paycheck.

    2. Bob says

      But she kept the economy going by buying all those knee pads.

  2. Melody says

    Yup! And then the business’s all left and there was no jobs to be found! I do not want to go back to that!!! Nope!

    1. Joseph Gradillas says

      If you want your taxes raise and lose money on your 401k VOTE biden .if you want yours taxes lowered and your 401k to increased VOTE trump

  3. jreb57 says

    The Democrats don”t seem to do economics any better that Karl Marx. Marx had the Midas touch in reverse.

  4. Lawrence M. Keen says

    As a retiree, I empathize with working people who want to retain as much of their salaries as possible, especially when they see so many dollars going to welfare checks and so many people on the dole, after watching the unemployment numbers go down dramatically under the watchful eye of President Trump. Democrats want to buy votes by giving a lot of people a lot of free stuff while trying to destroy the middle class.

Leave A Reply

Your email address will not be published.