During the 2020 Presidential campaign, Joe Biden promised that hardly any Americans would see a significant tax hike under his plan. As conservatives suspected, that was a blatant lie.
In fact, small business owners are about to be hit with a flurry of new taxes thanks to Biden’s greed.
GOP Rep Kevin Brady appeared on Fox News’ “Varney” to send a dire warning of the coming tax hikes. Brady says that a whopping SIX tax hikes are coming for business owners all across the country.
“$4.50 trillion to be precise, and that’s up a whopping 18 percent from the year before; $2.05 trillion of that came from income taxes up 27 percent; 370 billion from corporate taxes, up 75 percent, Varney reported. “That clearly the money is absolutely pouring in a record pace. Congressman Kevin Brady joins me. He wrote the tax plan that produced this gusher of money. Congressman, if there is a hike in income tax rates or corporate tax rates what do you think is the impact?” he asked the GOP rep.
“Look, we are seeing record revenues because we got the economy moving again, became the most competitive economy in the world. We saw small business investing and expanding. We saw jobs and manufacturing coming back from overseas. And so we saw record levels. What this says is that another myth that President Biden uses and much of the narrative he gives on taxes are false, this one got debunked, tax revenues are not down, corporations are — are hitting record revenues for the federal government, 80 percent of this new tax revenue comes from the successful. And so the — the bottom line is Washington has all the money it needs. It just doesn’t have all the money it wants in the Democrats view. And so, look, I think we hiked taxes trying to come out of pandemic, self sabotage our competitiveness with foreign countries, you are going to see slower GDP growth, you are going to see flatter paychecks, you are going to see jobs are moving overseas. And mainstream businesses who get hammered with about 6 different tax hikes in President Biden’s bill is going to get hurt in a — in a significant way.”
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