By Duncan Smith
Joe Biden wants to raise taxes on the wealthiest Americans because his handlers are Marxists and that’s what Marxists do: They go after wealth so they can tear down societies and rule over the ashes.
He said taxes would only be raised on Americans earning over $400,000 per year to pay for his multi-trillion dollar ‘infrastructure’ plan that only spends about 6% on actual infrastructure. The rest goes to pay off Democratic constituencies and hook Americans on the government dole.
But it turns out that’s a blatant lie.
More Americans that previously thought are actually going to be socked for new taxes up to 36.9% for the top rate — more than one-third of what people in those income brackets earn.
Axios has more:
President Biden's promise not to raise taxes on Americans who make less than $400,000 only applies to individuals — not married couples filing jointly, a White House official clarified to Axios on Wednesday.
Why it matters: The declaration means a hypothetical couple, with each spouse making $399,999, would not escape the tax increase even though they individually earn less than $400,000.
'Their combined income would be $799,998, which the White House believes is sufficient to help underwrite the expanded social safety net the president is proposing,' Axios continued in its exclusive.
Trending Politics added:
But the lying didn't stop there. Biden also plans to raise the top rates on higher earners — families making $509,300 (who comes up with these numbers?) — from 37 percent (which is already obscene) to 39.6 percent (more obscene because it'll mean Uncle Sam will get more than one-third of what these people earn). The higher rate would also apply to individuals above $452,700.
This is a far cry from what the British were taxing our forefathers and a helluva lot more than the 7 percent tax imposed on Americans earning over $500,000 when the current income tax regime was implemented in 1913.
So, what other secret tax schemes are hidden in Biden’s massively expensive infrastructure bill?
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