Democrats’ Crippling Tax Hikes Will Slam Working Families and Main Street Businesses
Here are some fast facts ahead of the 2021 tax filing deadline
Tax Day is quickly approaching! Be sure to file your taxes ahead of the 2021 tax filing deadline, which is Monday, April 18.
Even though GOP-led reform of the tax code improved Tax Day for every American, that hasn’t stopped Democrats from vowing to repeal the Tax Cuts and Jobs Act (TCJA).
In fact, despite raging inflation, President Biden has doubled down on crippling tax hikes and more runaway spending. Now, experts are warning our economy is headed towards recession.
Here are some fast facts:
- The majority of American families report their incomes can’t keep up with Bidenflation: For American families making between $33,100 and $50,229, President Biden’s tax hikes would slash their wages by more than $2,000.
- The majority of Americans oppose President Biden’s tax hike scheme: Americans oppose taxing unrealized gains – or as put by Sen. Manchin – taxing things “you don’t have” by a 3 to 1 ratio, 75 percent – 25 percent.
- President Biden’s tax hikes would destroy U.S. jobs: According to the nonpartisan Tax Foundation, President Biden’s tax hikes would destroy at least 138,000 U.S. jobs.
Stay tuned for more updates ahead of the 2021 tax filing deadline.
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Bidenflation Tax is Wiping Out Tax Reform’s Gains
REMINDER: TCJA Improved Tax Filing Day for All Americans