“It’s time for the rich to start paying their fair share!” Sound familiar? Joe Biden says it all the time. On the campaign trail in 2020, he promised that no one making less than $400,000 would see their taxes go up under his “plan.” Brace yourself. I know this will come as a huge shock, but… Joe lied. He lied bigtime. If this fake $3.5 trillion infrastructure boondoggle in Congress is passed into law, taxes are going up a lot for the working poor and the middle class. That’s according to an analysis by the Joint Committee on Taxation. I hope that the libs that voted for Joe Biden are paying attention. Dementia Joe has broken another campaign promise.
Joe Biden’s press flack at the White House, Jen Psaki, reiterated Biden’s promise to taxpayers back in March:
“[Dementia Joe] remains committed to his pledge from the campaign that nobody making under $400,000 a year will have their taxes increased.”
Yet buried within the infrastructure package, the Joint Committee on Taxation (JCT) has revealed that there are phased-in tax increases for people making much less than $400,000 per year. Anyone making $50,000 or more a year will have major tax increases to look forward to. By 2027, people making just $30,000 a year will see their taxes go up. And the poor will get an immediate tax increase, thanks to new tobacco taxes that will go into effect immediately if passed.
Far from taxing the rich, as he threatened to do (and which we should all oppose), Joe Biden’s infrastructure plan will raise taxes on Walmart greeters and hair stylists. How do you like them apples?
And while the Democrats are trying to raise taxes on the poor and the working class, the infrastructure bill contains massive tax subsidies for families making $800,000 or more per year, effective immediately. Here are some of the goodies for wealthy families that are included in the bill:
If you buy a Tesla Model 3 for your college freshman, you’ll get a $12,500 tax subsidy. Parents of university students who purchase a Tesla Model Y for themselves get a $12,500 subsidy for themselves as well. It’s a two-fer! Great for Elon Musk AND wealthy Members of Congress!
There’s an $11,100 tuition savings provision in the “infrastructure” bill. That provides more financial aid for the highest-cost universities in the US, so the schools can avoid endowment taxes.
Wealthy families can install new energy efficient, designer windows and doors for a $1,350 tax subsidy. They get an $18,000 subsidy if they install a hydrogen fuel cell system for their home. Oh, and if they install a geothermal heat pump system on their second home, they can get an additional $10,000 tax subsidy.
Plus, they can take an additional $52,500 tax deduction from the SALT tax shelter program.
That’s a grand total of $118,000 in tax savings for families making $800,000 per year. And that’s not phased in over time like the tax increases. It goes into effect immediately if this fake infrastructure bill is passed into law.
Huge tax savings for wealthy progressive families that support the Democrats, and huge tax increases on the working poor and the middle class. That seems pretty upside-down compared to Joe Biden’s campaign promises, doesn’t it?
You’ll also notice that all those tax subsidies are aimed at Democrat special interest groups: “Green” energy frauds, electric car makers, woke universities, and so on.
Joe Biden summoned Senators John Manchin (D-WV) and Kyrsten Sinema (D-AZ) to the White House this past week to try to bribe them into supporting this infrastructure boondoggle. He needs both their votes, as well as ten treasonous Republicans, to be able to break through the filibuster and pass the bill.
Unfortunately for Joe, and fortunately for America, Manchin is not budging. Sinema hasn’t issued a statement yet on whether she will be willing to budge. But Manchin is still a firm “No,” which is disastrous for Biden’s tax increases. Manchin wants $2 trillion chopped off the final price tag for the bill. He also wants the bill to contain some, you know, infrastructure projects in it. Crazy, right?
There is little chance of this passing, so long as the filibuster remains in place in the Senate. But everyone needs to know that Joe Biden is breaking yet another campaign promise. He’s trying to tax the working poor and the middle class, while giving huge tax cuts to his liberal cronies.