Tuesday, September 15, 2020

News Flash for Joe Biden: Corporations don't print money so his tax increases will come out of working families pockets

Joe Biden is planning to increase taxes by $3.4 Trillion dollars over the next decade.

That's Biden taking that much money that Americans have earned and spending it the way he wants to; mostly on buying votes.

The biggest chunk of that would be on increased tax rates for corporations. Like most Democrat politicians Joe acts as though increasing taxes on corporations won't impact consumer prices.  Problem is that corporations don't, unlike spending crazed politicians, print money so when their expenses go up, and taxes are a business expense, they increase prices.

Who pays those higher prices?  You do.

Similarly the US tried "taxing the rich" in the past and what happens is that the rich stop investing, reducing the capital that businesses need and thereby reducing economic growth, and working people pay the price.

That's why JFK supported reducing taxes on the rich. He correctly pointed out that when the economy grows everyone is better off.

Since Joe is now basically a ventriloquist's dummy for Biden, Harris, and the other extremists in the Democrat party he doesn't care that increased taxes will hurt you. All he cares about is that the more of your money DC has the more power DC has over you.

For Democrats all that matters is the ability to be able to control your life.

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