While campaigning Joe Biden said he would not tax anyone who is earning under $400k. Only people who earn above 400k would be taxed, then candidate Joe Biden insisted. This statement was obviously not true. The spending of the Biden Administration and the Democrat controlled Congress is so out of control, that there is simply no way that only the affluent could pay for it.
Watch your wallet, Mr. and Mrs. America.
How it started: How it’s going: pic.twitter.com/pTPiYF20id
— Sean Parnell (@SeanParnellUSA) March 18, 2021
By Sean Hannity, March 18, 2021
Despite making numerous claims that his proposed tax hike will only affect Americans earning more than $400,000, analysts now believe President Biden’s policy could impact those making $200,000 per year.
“Anybody making more than $400,000 will see a small-to-a-significant tax increase,” Biden said during an interview on ABC’s “Good Morning America” that aired Wednesday. “You make less than $400,000, you won’t see one single penny in additional federal tax.”
“Jen Psaki clarified on Wednesday that Biden’s proposed $400,000 threshold for tax increases applies to families, rather than individuals, meaning the hike could hit individuals who earn $200,000 a year if they are married to someone who makes the same amount,” reports Fox News.
“He meant families,” said Psaki.
— Maria Bartiromo (@MariaBartiromo) March 18, 2021
President Biden has already called for $4 trillion in new spending on programs like CoVID relief and the Green New Deal.
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