Former President Ronald Reagan used to have two descriptions (among many) of the Democrat Party:
They never met a tax they didn't like, or hike.
Republicans see every day as July 4th, the Democrats see every day as April 15.
Proving once again that Reagan was right about them, the Democrats are planning to raise taxes. This time, it is during a period of high inflation and the possibility of a recession. Impeccable timing, eh?
The Epoch Times reported:
Taxes will go up for millions of lower- and middle-income taxpayers under the House Democrats’ version of President Joe Biden’s Build Back Better plan, according to two new analyses by the non-partisan professional staff of the congressional Joint Committee on Taxation (JCT).
“While Republican tax reform in 2017 cut taxes for all Americans, and increased the progressivity of the tax code, the Democrats’ approach to tax reform does not cut taxes for anyone, but it would raise taxes on millions of lower- and middle-income Americans at a time when they can least afford it,” U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) said in a statement issued late Monday.
“The economy is already reeling from Democrats’ bad policies and people are struggling to make ends meet. The last thing they need are higher taxes, especially in light of rising odds of a recession and stagflation,” the Idaho Republican continued.
Crapo was referring to the June 23 (pdf) and June 27 (pdf) analyses by the 10-member panel, which made the studies available to Members of Congress and their staff, but did not publicly issue news releases describing the results. Both analyses focused on H.R. 5376, as amended.
To read more, go here.
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