As Americans for Tax Reform’s Alex Hendrie wrote in an op-ed for the Washington Times:
“Democrats’ claim that tax increases will solve inflation and help middle-class families is laughable. Far from helping the American people, these tax hikes will harm jobs, wage growth, and American competitiveness.
“Moreover, at a time when inflation is at a 40-year high, these tax increases will only make this problem worse by further increasing the cost of goods and services.”
CLICK HERE to read the full op-ed.
There is overwhelming evidence that Democrats’ tax hikes:
- Slash family wages. With 62 percent of American families reporting their incomes can’t keep up with rising prices, a family earning between $33,100 and $50,229 would see their post-tax income slashed by more than $2,000 as a result of Democrats’ tax hikes.
- Kill U.S. jobs. According to analysis from the nonpartisan Tax Foundation, President Biden’s tax hikes would destroy at least 138,000 jobs over the next decade.
- Hammer Main Street businesses. Even though more than 60 percent of job creators fear Bidenflation will force them out of businesses, Democrats want to gut the Republican-created small business deduction that boosted workers’ wages.
- Would worsen Bidenflation. Not only are tax hikes unpopular with the American people, but a majority of workers believe tax hikes would push prices up even higher.