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Republicans tell Biden tax hikes are a non-starter in recovery plan

37 Comments
By Jeff Mason and Jarrett Renshaw

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37 Comments

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Rich people must be protected at all costs.

6 ( +7 / -1 )

Yes, we need to protect the job creators so they can move the jobs overseas where labor is cheaper. Just what a capitalist free market dictates.

4 ( +6 / -2 )

So the Democrats want to tax people into oblivion even after the country has suffered over a year of lockdowns, businesses closed, over 60% of small businesses are never coming back, the schools are not re-opening, kids our biggest investment are losing their education, people can’t pay their bills when you look at the rising cost of everything. California the price of a gallon of gas is $4, a tax hike would set the country further back, not to mention drive out companies that are already struggling to survive. Bad news for the middle class, but great news for the GOP in 2022

-11 ( +0 / -11 )

So the Democrats want to tax people into oblivion

Nope, and this isn’t a logical inference from the article.

5 ( +5 / -0 )

So the Democrats want to tax people into oblivion

Read the article and then search the archive for every other article about the infrastructure bill. Every time it has been made clear that taxes will be increased on the rich with no intention to increase taxes for anyone else. Every time.

This article mentions it 4 times.

6 ( +6 / -0 )

Not a single cent increase in taxes to date. No tax increases for those earning $400,000 or less. That's the majority of the people. The government does not set the price of gas, the market does that. The average is $2.95 a gallon. California problems with gas supplies.

 60% of small businesses are never coming back,.

No evidence that will happen

https://libertystreeteconomics.newyorkfed.org/2021/05/many-small-businesses-in-the-services-sector-are-unlikely-to-reopen.html

Multimillionaires need to pay their fair shares.

Trump's tax breaks

"My Republican friends had no problem voting to pass a tax proposal — it expires in 2025 — that costs $2 trillion," Biden said, adding that none of that was paid for. In fact, he said, it "gave the overwhelming percentage of those tax breaks to people who didn't need it. The top one-tenth of 1% didn't need it."

"The biggest 35 or 30 corporations didn't pay a single solitary penny last year, and they're Fortune 500 companies," Biden said. "They made $400 billion. They paid no taxes. How can that make any sense?"

https://www.businessinsider.com/biden-defends-tax-increases-average-multimillionaire-whispered-wealth-infrastructure-2021-5

3 ( +4 / -1 )

Nope, and this isn’t a logical inference from the article

Well, if that’s true then maybe Biden and Bernie will listen to you and not go forward with this madness, last time this happened it was under Joe’s other boss and his tax hikes led to the formation of the Tea Party and it ultimately cost the Democrats both chambers and once again they’re doing the same thing all over again. Of course the Dems have to raise taxes on everyone, he has to otherwise there is no way the Federal government can pay for all of this, it’s already an insurmountable amount, but gradually taxes are going up and as long as I have been living on this planet, I have never met a Democrat who didn’t love a tax hike and if you want to believe Joe’s Trojan horse, fine. Joe, keep helping the GOP your a better friend to them than I’d hope you would be. 2022

-6 ( +1 / -7 )

Republicans: always scared and making stuff up to try to scare everyone else too.

3 ( +4 / -1 )

California the price of a gallon of gas is $4

No, that is not true. Regular is around $3.49 to $3.63 in the Los Angeles area. It is a few cents per gallon more expensive where I live but well under $4.00. I paid $3.679 per gallon for gas on Sunday.

4 ( +5 / -1 )

You can have the greatest policy proposal in history, but if you can’t make it a bill and get it passed through the legislative branch, then it’s not worth the paper it’s printed on. Biden appreciates the art of the possible. That’s why his proposal isn’t perfect.

1 ( +2 / -1 )

Well, if that’s true then maybe Biden and Bernie will listen to you and not go forward with this madness, last time this happened it was under Joe’s other boss and his tax hikes led to the formation of the Tea Party and it ultimately cost the Democrats both chambers and once again they’re doing the same thing all over again. Of course the Dems have to raise taxes on everyone, he has to otherwise there is no way the Federal government can pay for all of this, it’s already an insurmountable amount, but gradually taxes are going up and as long as I have been living on this planet, I have never met a Democrat who didn’t love a tax hike and if you want to believe Joe’s Trojan horse, fine. Joe, keep helping the GOP your a better friend to them than I’d hope you would be. 2022

Okay, but none of this supports your assertion that “the Democrats want to tax people into oblivion.”

2 ( +3 / -1 )

Tax burden is a simple metric. It is the amount of revenue collected at all levels of government from all sources divided by the GDP. Simple. That captures every imaginable tax including all those "hidden taxes" some people love to complain about. Total revenue as a percent of GPD.

For the US, 2020 Federal receipts from all sources were 16.33% of GDP. For the same year Federal Net Outlays, in other words how much the Federal Government spent, were 31.29% of GDP. That difference is the Federal deficit for FY2020. My data source is the Saint Louis Federal Reserve Bank.

https://fred.stlouisfed.org/series/FYFRGDA188S

https://fred.stlouisfed.org/series/FYONGDA188S

If you add in local, county and state receipts from all sources to the Federal receipts the overall tax burden for the US , meaning total tax revenues at all levels of government from all sources, is 24.5% of GDP. This is based on OECD data, considered to be reliable and accurate by economists and policy makers around the world. The average tax burden of the three dozen OECD members, meaning the three dozen most highly developed nations in the world, is 33.8% of GDP.

https://www.oecd.org/tax/tax-policy/revenue-statistics-highlights-brochure.pdf

Let's examine this. The US Government takes in the equivalent of 16.33% of the US GDP but spends the equivalent of over 31% of that same GDP. The US does this year after year for most of the last 40 years. The remaining tax burden are state and local revenues and they must run balanced budgets. In FY2000 the US had a very slight budget surplus. That year Federal receipts were 19.75% of GDP and the US was at peace. The economy was good and there was talk of dividing future budget surpluses between paying down the national debt and putting some of the money borrowed from the Social Security Trust Fund back in the fund so it would be available for the retirement of the Baby Boomer generation.

The US could do this again and it would benefit the economy greatly. The current President has proposed raising taxes only for those making over $400,000 per year. No one else see a tax increase. I don't see what all the angst is about.

3 ( +4 / -1 )

but gradually taxes are going up and as long as I have been living

No, that is not true either. Look at this chart from the Saint Louis Fed.

https://fred.stlouisfed.org/series/FYFRGDA188S

This measures Federal receipts, meaning Federal tax revenues from all sources, as a percent of GDP. The year when Federal receipts were their highest was 1945. I do not think you are 76 years old. Since then Federal receipts have varied from as low as 13% of GDP to the most recent high of 19.75% of GDP in FY2020. It has fallen since to as low as 15% of GDP and now is back up just over 16% of GDP. Facts. Become acquainted with them.

1 ( +2 / -1 )

Cut spending massively - cut, cut, cut. Implement a flat tax on all income after the poverty lie elsewhere with no exemptions. That will cut Biden’s corporate masters down to size.

-9 ( +0 / -9 )

As always, republicans are more interested in making themselves and their donors richer than helping the american people. A bunch of feckless clowns.

3 ( +4 / -1 )

"The biggest 35 or 30 corporations didn't pay a single solitary penny last year, and they're Fortune 500 companies," Biden said. "They made $400 billion. They paid no taxes. How can that make any sense?"

Most of these corporations support the Left. No one has to force them to pay higher taxes. They can very easily pay more in taxes - voluntarily. Warren Buffet, Bill Gates, Coca Cola, and Google can pay much more in taxes if they like - yet somehow Dems never encourage them to pay their fair share.

-7 ( +0 / -7 )

Most of these corporations support the Left. No one has to force them to pay higher taxes. They can very easily pay more in taxes - voluntarily. Warren Buffet, Bill Gates, Coca Cola, and Google can pay much more in taxes if they like - yet somehow Dems never encourage them to pay their fair share

Corporate taxes comprise 1% of Federal revenues. 85% of Federal revenues come from payroll and income taxes. The remaining 14% come from excise taxes paid by consumers. Corporate taxes have never in US history amounted to more than 2% of Federal revenues.

5 ( +5 / -0 )

So the Democrats want to tax people into oblivion even after the country has suffered over a year of lockdowns

If, after a year of lockdowns as you say, they still made over $400,000 then I think they could pay their fair share.

4 ( +4 / -0 )

Cut spending massively - cut, cut, cut

There is no need to. The US had a surplus in FY2000 without gutting the government. But the US was at peace so there weren't the big wartime bills the US has been paying the past 20 years. The dozen nations with higher standards of living than the US all have greater tax burdens than the US and their economies are mostly strong. But they all have single payer health care systems with half to 1/3 the cost per person as the US has. There are only five nations in OECD with lower tax burdens than the US and none of them are wealthy.

4 ( +4 / -0 )

Warren Buffet, Bill Gates, Coca Cola, and Google can pay much more in taxes if they like - yet somehow Dems never encourage them to pay their fair share.

Please stick to making truthful statements. Every proposal to raise taxes on the wealthiest are fought not by the Democrats but by the Republicans. We see exactly that dynamic now with Mr. Biden's proposal to raise taxes on people earning over $400,000 per year. Such a tax increase affects a very small percent of taxpayers in the US but the Republicans are making it sound like everyone will pay higher taxes and are opposed to the proposal. Tell us how this is a case of the Democrats somehow refusing to make the rich pay their share?

3 ( +3 / -0 )

Cut spending massively - cut, cut, cut. Implement a flat tax on all income after the poverty lie elsewhere with no exemptions. That will cut Biden’s corporate masters down to size.

These are both extremely bad ideas.

3 ( +3 / -0 )

Desert Tortoise: the Republicans are making it sound like everyone will pay higher taxes

Yep. The GOP does it every time. And it works every time.

1 ( +2 / -1 )

have you seen the highest inflation numbers in 13 years?

CPI also highest since 2008.

People already have less money before Biden even starts taxing.

Gas prices up from $1.81 average to $3 average per gallon.

Stock market especially NASDAQ doing horribly, so there will be no capital gains to tax.

Maybe they can find a way to tax Dogecoin.

-6 ( +0 / -6 )

Republicans: always scared and making stuff up to try to scare everyone else too

Sadly, most people have TVs and the internet, so there wouldn’t be a need for that

Yep. The GOP does it every time. And it works every time.

Well, it’s true. I mean Biden also said, there’s no crisis along our borders and the msm and the Democrats tried to use Copperfield tactics in the hopes would believe otherwise….didn’t work either…

https://www.nationalreview.com/corner/joe-biden-wont-stop-lying-about-his-tax-plan/

Biden is already planning several ways to break his promise not to raise a single cent of taxes on the middle class. Here’s just a few we know about at this point from either the campaign or recent comments by Democrats:

A $200 registration **tax on firearms**

An ambitious overhaul of retirement accounts that would **increase taxes on those earning over $80,250**

**tax on unrealized capital gains passed after death (i.e., increasing the death tax)**

https://www.unitedvoice.com/bidens-big-tax-lie/

I know Dems think we have an inexhaustible supply of money, but at this point, hate to burst your bubble, but…..

-4 ( +1 / -5 )

Nah, those taxes don't amount to much of anything. Just nitpicking there.

2 ( +2 / -0 )

Sadly, most people have TVs and the internet

Why is it “sad” that people have televisions? Or access to the Internet?

2 ( +2 / -0 )

Nah, those taxes don't amount to much of anything. Just nitpicking there.

Yeah, Obama said the same thing and the Tea party was born. After so many years on this planet Dems think people just buy into the peoples crap, they don’t, especially after what Obama did.

-5 ( +1 / -6 )

It will always be a mystery to me why poor and middle class people would not support more taxes on the indecently rich members of society. Why would someopne who barely makes 100.000$ per year be vehemently against taxing people who make more than 400.000$ at a decent amount? What's in it for them? Do these people, who usually pine for the "good old days" of the American Dream realize that throughout that whole golden age after the 2nd world war, when the economy was roaring, the income tax rate was well above 70%? That in the 50's and 60's, the rate for the richest americans was 91%? I doubt they do.

2 ( +2 / -0 )

bass: Yeah, Obama said the same thing

Your blog actually mentioned George HW Bush. I guess it was more palatable to change it to Obama.

Anyway, I researched your article and the talking points are BS, as expected. You didn't research so you don't know what I'm talking about. No need to argue as I'm not trying to get you to admit defeat. The point is everyone here will believe me over you, so make up what you need to feel better personally, or just change the topic entirely. Your choice.

At the end of the day, you're just another rich guy (your words) trying to trick the working class into voting to save you tens of thousands of dollars a year or more in taxes while they get nothing.

3 ( +3 / -0 )

Wanton government spending grows an already bloated deficit, the dollar gets weaker, inflation goes up, every aspect of life for everyone (not just those making over 400K) becomes more expensive. Is that a tax?

-2 ( +0 / -2 )

It will always be a mystery to me why poor and middle class people would not support more taxes on the indecently rich members of society.

like how much more? You tax me out of existence I can always move.

Why would someopne who barely makes 100.000$ per year be vehemently against taxing people who make more than 400.000$ at a decent amount? What's in it for them? Do these people, who usually pine for the "good old days" of the American Dream realize that throughout that whole golden age after the 2nd world war, when the economy was roaring, the income tax rate was well above 70%?*

A suit costed about $50-100, an ice cream a quarter, different economy, different times. Also in those days you could have one family head to make enough money for six people, it’s not like that or anything near there anymore, so comparing those two time periods is just ludicrous.

.

-6 ( +0 / -6 )

It will always be a mystery to me why poor and middle class people would not support more taxes on the indecently rich members of society.

like how much more? You tax me out of existence I can always move.

Why would someopne who barely makes 100.000$ per year be vehemently against taxing people who make more than 400.000$ at a decent amount? What's in it for them? Do these people, who usually pine for the "good old days" of the American Dream realize that throughout that whole golden age after the 2nd world war, when the economy was roaring, the income tax rate was well above 70%?*

A suit costed about $50-100, an ice cream a quarter, different economy, different times. Also in those days you could have one family head to make enough money for six people, it’s not like that or anything near there anymore, so comparing those two time periods is just ludicrous.

-6 ( +0 / -6 )

bass4funk

It will always be a mystery to me why poor and middle class people would not support more taxes on the indecently rich members of society.

like how much more? You tax me out of existence I can always move.

You already moved out 20 years ago and you said this year you removed your money out of the country.

3 ( +3 / -0 )

Your blog actually mentioned George HW Bush. I guess it was more palatable to change it to Obama.

Well, look at his taxation rate and there’s your answer.

Anyway, I researched your article and the talking points are BS, as expected.

No, just to the tax hike lovers, which on its face is BS

You didn't research so you don't know what I'm talking about. No need to argue as I'm not trying to get you to admit defeat. .

no need to argue and no need to claim defeat, there was no defeat, there are only facts and the facts are that the Democrats were basically instrumental in pushing for the creation of the tea party and here we are again 12 years later going down that same stupid road, so we all know it’s what the Dems do, it’s the only thing that they can do, they can’t create jobs, they can’t create them especially in the private sector, so they need to scrounge off other people.

At the end of the day, you're just another rich guy (your words) trying to trick the working class

No, I won’t do that and would never do that, that’s why I’m not a liberal, I believe in getting up in the morning and working my butt off to get what I have and I believe in traditional low taxes and less government what Biden is doing is the opposite, but it doesn’t matter to me, the only thing I look for is the GOP taking back the house in 2022 and Biden‘s tax plan is going to set the GOP straight to achieve that goal.

-4 ( +0 / -4 )

Dems and Repubs: We need to invest in and improve our infrastructure...

Dems: To pay for it, we ought to increase the corporate tax rates on the largest companies that use this infrastructure to move their products to market. And we ought to increase the taxes of those corporation CEOs that have seen their executive compensation increase by 29% this year, while their employees, those that weren't laid off, saw a 2% decrease in their pay....

Repubs: To pay for it, we should leave the rich alone. Pay for this bill in "fees" - which primarily effect the lower and middle class...

The Repubs have a real winner there...

2 ( +2 / -0 )

No, I won’t do that and would never do that, that’s why I’m not a liberal, I believe in getting up in the morning and working my butt off to get what I have and I believe in traditional low taxes and less government what Biden is doing is the opposite, but it doesn’t matter to me, the only thing I look for is the GOP taking back the house in 2022 and Biden‘s tax plan is going to set the GOP straight to achieve that goal.

So why did you claim you inherited your wealth from your deceased father. You also claimed your single mother sister was struggling in the pandemic and couldn't afford hospital treatment for her children.

4 ( +4 / -0 )

The Tea Party is now only yesterday's leaves.

1 ( +1 / -0 )

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