Boots & Sabers

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0721, 14 Sep 21

Democrats Looking to Feed the Spending Beast With Massive Tax Hikes

Just remember than whenever you see people saying that taxes will only impact “the rich,” that is how the income tax was originally sold.

WASHINGTON (AP) — House Democrats unveiled a sweeping proposal for tax hikes on big corporations and the wealthy to fund President Joe Biden’s $3.5 trillion rebuilding plan, as Congress speeds ahead to shape the far-reaching package that touches almost all aspects of domestic life.


The proposed top tax rate would revert to 39.6% on individuals earning more than $400,000, or $450,000 for couples, and there would be a 3% tax on wealthier Americans with adjusted income beyond $5 million a year. For big businesses, the proposal would lift the corporate tax rate from 21% to 26.5% on incomes beyond $5 million, slightly less than the 28% rate the president had sought.


In all, the tax hikes are in line with Biden’s own proposals and would bring about the most substantive changes in the tax code since Republicans with then-President Donald Trump slashed taxes in 2017. Business and anti-tax groups are sure to object. But Democrats are pressing forward.


0721, 14 September 2021


  1. Mar

    Bill Maher showing liberal stupidity:
    Maher noted a whopping 41% of Democrats thought it was over 50%, while 28% thought it was 20-49% of COVID patients wind up in the hospital.

    “70% of Democrats thought it was way, way, way higher than it really was,” Maher said. “Liberal media has to take a little responsibility for that. For scaring the s–t out of people.”
    Of course the number is slightly lower, like about 1%.

  2. Tuerqas

    “Liberal media has to take a little responsibility for that. For scaring the s–t out of people.”

    Wow. A little responsibility…that’s like saying that the Japanese should take a little responsibility for the attack on Pearl Harbor. For killing the s-t out of Americans.

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