President Joe Biden has vowed to raise taxes if reelected, a move that would undo the benefits of the Trump tax cuts and cripple working families.
President Joe Biden's proposed tax hike would be a devastating blow to American families and the economy. If enacted, it would represent the largest tax increase in history, violating the president's oft-repeated pledge never to raise taxes on the middle class.
The Trump tax cuts, which Biden wants to let expire, provided significant relief to Americans across all income levels, with the largest percentage reduction going to the middle class. The cuts also lowered our business tax rate from the highest in the developed world to a more competitive level, and reduced taxes on small businesses to an average of less than 20%.
These measures stimulated investment, leading to the fastest wage growth in two decades. Biden's proposed tax hike would reverse all these benefits, increasing taxes by a staggering $5 trillion.
The tax hike would crush working families, adding over $2,200 to the median American's tax bill. It would also drive away businesses and jobs overseas, leading to lower pay and fewer opportunities for Americans.
Biden claims that his tax hike will only affect millionaires, billionaires, and massive corporations. However, this is simply not true. The middle class would bear a significant portion of the tax burden, despite the president's promises to the contrary.
Instead of expanding the government, we should be guided by proven results and allowing Americans to keep the money they earn. The Trump tax cuts worked, leading to one of the greatest economies in history. Biden's tax hike would undo all that progress, hurting our economy and families.
The good news is that this tax hike doesn't have to happen. It is up to voters to ensure that Biden is not reelected and that the Trump tax cuts are extended.
Biden's proposed tax hike is a dangerous and harmful policy that would disproportionately impact working families and small businesses. It must be rejected.
By raising taxes, Biden is undermining economic growth, increasing the cost of living for Americans, and expanding the size of the federal government. This is a recipe for disaster that must be avoided.
The Trump tax cuts were a success, and they should be preserved. Biden's proposed tax hike is a step in the wrong direction that would damage the economy and hurt American families.
