Democrats' reconciliation bill breaks Biden's middle class tax pledge:

Addison IL

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Democrats' reconciliation bill breaks Biden's middle class tax pledge (NOT SURPRISED THAT ALL THE DEMONRATS DO IS RASIE TAXES During the 2020 campaign, Joe Biden and Kamala Harris promised over 50 times that they would not raise any tax on any American making less than $400,000 per year. But now, Democrats are pushing a multi-trillion-dollar socialist reconciliation bill that violates the pledge. They claim it will cost nothing because it is "paid for" by tax increases that won't harm the middle class or those making less than $400,000 per year. This is false. Biden and Democrats have proposed multiple tax increases that will directly impact these families. Working families are already seeing tightening budgets and higher prices under President Biden. Consumer prices have increased by 5.4 percent over the last 12 months, a rate significantly higher than when President Biden took office, when consumer prices had increased by just 1.4 percent in the past 12 months. Gasoline has increased by 42.1 percent in the past year, meat has increased 12.6 percent, and televisions have increased by 12.7 percent. Children's footwear has increased 11.9 percent, bacon has increased by 19.3 percent, and fresh seafood has increased by 10.6 percent. Democrats want to raise the corporate tax rate so that our rate is higher than China and Europe. Corporations will not bear the cost of these tax increases but will pass it along to working families in the form of higher prices, fewer jobs and lower wages. The Joint Committee on Taxation estimates that 25 percent of the corporate tax falls on workers while the Tax Foundation estimates that 70 percent of this tax is borne by labor. The left-of-center Tax Policy Center concluded that Biden's budget would result in higher taxes for 74.1 percent of middle income-quintile households.