Prepare to Shell Out Massive Amounts of Money for Taxes If Biden Is Re-Elected
Sarah Arnold
If President Joe Biden is re-elected for another four years, Americans better be prepared to see massive tax hikes as the country faces record-high inflation.
Biden vowed to keep former President Donald Trump’s 2017 tax cuts “expired” for another four years, meaning middle-class and low-income Americans would see higher taxes beginning in 2025.
“[Trump] was proud, very proud of his $2 trillion tax cut when he was president that overwhelmingly benefited the wealthy and the biggest corporations and exploded, exploded the federal debt,” Biden said. He was referring to the former president’s Tax Cuts and Jobs Act (TCJA)— which permanently lowered corporate taxes from 35 percent to 21 percent and temporarily lowered personal income tax rates through 2025.
“There is no exaggeration here: It’s going to expire and if I’m re-elected, it is going to stay expired,” Biden continued.
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https://townhall.com/tipsheet/saraharnold/2024/04/21/if-biden-is-re-elected-americans-will-see-the-largest-tax-hike-in-history-n2638069
