Biden Proposes $2 Trillion Tax Hikes for Workers, U.S. Employers - AMAC - The Association of Mature American Citizens

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Democrats' tax hikes will hurt American workers. Ordinary Americans will shoulder a significant portion of Biden's corporate tax hike. There's
President Biden plans to unveil a series of job-killing tax hikes as a part of his next spending plan with even more tax increases on the table. Here are some details on these policies.

Democrats refuse to provide job creation estimates in their so-called jobs plan.

Despite over 70 instances of the word "jobs" in President Biden's "jobs plan," Democrats provide no estimates for jobs they would create.

Democrats have yet to respond to a letter by Republicans in early February seeking an estimate for jobs that would result from their "stimulus" bill.

Democrats' tax hikes will hurt American workers.

Ordinary Americans will shoulder a significant portion of Biden's corporate tax hike. There's no hiding the fact that this tax hike will take a bite out of Americans' paycheck.

Nonpartisan congressional budget scorekeepers estimate that workers will bear about 25 percent of the Biden tax increase, while other economic experts put that share much higher, at 50 percent, or even 70 percent.

Even workers in the bottom 20 percent of earners would on average see a cut in paychecks in the long run.

Democrats' tax hikes mean lower wages and less growth.

According to the Tax Foundation, Biden's corporate rate increase alone will eliminate 159,000 jobs and reduce wages by 0.7 percent.

Biden's tax hike to 28 percent, in addition to state taxes, would drag the United States back to having the highest combined corporate tax rate in the developed world, 9 percentage points higher than the average of developed nations.

This could reduce our economic growth by 0.8% and the capital stock by 2.1 percent.

Democrats' tax hikes mean your utility bills will jump.

Republican tax cuts enabled a drop in utility rates across the country, but Democrat tax increases will have the reverse…
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