{"id":1582671,"date":"2022-08-01T12:16:05","date_gmt":"2022-08-01T16:16:05","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1582671"},"modified":"2022-08-01T12:16:21","modified_gmt":"2022-08-01T16:16:21","slug":"remember-how-democrats-said-not-to-raise-taxes-in-a-recession-thats-what-theyre-doing","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/remember-how-democrats-said-not-to-raise-taxes-in-a-recession-thats-what-theyre-doing\/","title":{"rendered":"Remember How Democrats Said Not To Raise Taxes In A Recession? That\u2019s What They\u2019re Doing"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fremember-how-democrats-said-not-to-raise-taxes-in-a-recession-thats-what-theyre-doing%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1582671&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Amid the Biden administration\u2019s recession, Congress is <a href=\"https:\/\/thefederalist.com\/2022\/07\/28\/schumer-manchin-agree-to-climate-crazed-tax-hike-just-in-time-for-recession-2010-obama-would-like-a-word\/\" target=\"_blank\" rel=\"noreferrer noopener\">reportedly<\/a> planning to increase taxes. Democrats\u2019 \u201cBuild Back Better\u201d legislation, which would raise taxes to fund \u201cgreen energy\u201d subsidies, appears to be getting a second chance. <\/p>\n<p>This legislation, however, contradicts advice even Democrats have repeatedly given: Don\u2019t raise taxes during a recession. Republican Rep. Jason Smith of Missouri put together a <a href=\"https:\/\/republicans-budget.house.gov\/wp-content\/uploads\/2022\/07\/Dont-Raise-Taxes-During-Recession.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">list<\/a> of times prominent Democrats have given the very advice they are now ignoring. <\/p>\n<p>\u201cIf we\u2019re in a recession \u2026 I don\u2019t think Sen. Obama or anyone else is going to raise any taxes,\u201d Sen. Chuck Schumer, D-N.Y., said going into the 2008 presidential election. \u201cYou don\u2019t want to take money out of the economy when the economy is shrinking.\u201d <\/p>\n<p>Later that year, Barack Obama won his first presidential election, and the next year, he expressed agreement with Schumer: \u201cThe last thing you want to do is to raise taxes in the middle of a recession,\u201d the then-president said. <\/p>\n<p>Yet this is precisely what Democrats in Congress are now advocating. West Virginia Sen. Joe Manchin has <a href=\"https:\/\/www.politico.com\/news\/2022\/07\/27\/manchin-schumer-senate-deal-energy-taxes-00048325\" target=\"_blank\" rel=\"noreferrer noopener\">reportedly<\/a> reached a deal with Schumer during the ongoing recession that would increase many Americans\u2019 taxes.<\/p>\n<p>Even Manchin himself said in 2010 that a recession was not the time for a tax hike. \u201cI don\u2019t think during a time of recession you mess with any of the taxes or increase any taxes,\u201d Manchin said. <\/p>\n<p>Manchin has now <a href=\"https:\/\/www.foxnews.com\/politics\/manchin-admits-mistake-saying-past-spending-bill-wouldnt-cause-inflation\" target=\"_blank\" rel=\"noreferrer noopener\">told<\/a> Fox News\u2019s Bret Baier that the bill would only close loopholes and not raise taxes, but <a href=\"https:\/\/michaelshellenberger.substack.com\/p\/senate-dem-proposal-would-hike-taxes?utm_source=%2Fprofile%2F2255433-michael-shellenberger&#038;utm_medium=reader2\" target=\"_blank\" rel=\"noreferrer noopener\">according<\/a> to Michael Shellenberger, the founder and president of Environmental Progress, the 15 percent minimum corporate tax in the bill would likely result in a tax increase for many individual Americans. <\/p>\n<p>\u201cIt is standard economic practice to assume that companies would pass along at least some of their tax increase to employees,\u201d Shellenberger said. <\/p>\n<p>In fact, Congress\u2019s own Joint Committee on Taxation found that there would would indeed be an increase, which would be even greater for ordinary American workers than for the wealthy. Recall that this is in violation of President Joe Biden\u2019s repeated promise not to raise taxes on those making less than $400,000 annually.<\/p>\n<p>As Shellenberger wrote: \u201cA new study by the U.S. Congress\u2019s <a href=\"https:\/\/www.jct.gov\/about-us\/overview\/\" target=\"_blank\" rel=\"noreferrer noopener\">nonpartisan<\/a> Joint Committee on Taxation <a href=\"https:\/\/www.finance.senate.gov\/imo\/media\/doc\/jct_distributional_effects_inflation_reduction_act.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">has found<\/a> that not only would the legislation increase taxes, it would increase taxes by $11 billion more on Americans earning below $200,000 per year than on Americans earning between $500,000 and $1 million, in 2023. And the legislation would increase taxes by $3 billion more on Americans earning below $200,000 per year than on Americans earning between $200,000 and $500,000 per year.\u201d<\/p>\n<p>Regardless of how corporate media might try to spin it, <a href=\"https:\/\/thefederalist.com\/2022\/07\/28\/its-official-the-joe-biden-recession-has-begun\/\" target=\"_blank\" rel=\"noreferrer noopener\">the economy is in a recession<\/a>, and Democrats are abandoning their own advice by attempting to raise taxes when America can least afford it. <\/p>\n<hr class=\"wp-block-separator\" \/>\n<p>\n  Olivia Hajicek is an intern at The Federalist and a junior at Hillsdale College studying history and journalism. She has covered campus and city news as a reporter for The Hillsdale Collegian. You can reach her at olivia.hajicek@gmail.com.<\/p>\n<div class=\"article-comments mt-30 mt-sm-60\">\n<div class=\"article-comments-container d-flex flex-column align-items-center py-30\">\n    <img loading=\"lazy\" decoding=\"async\" width=\"110\" height=\"106\" src=\"https:\/\/thefederalist.com\/wp-content\/uploads\/2021\/12\/fdrlst-mark.svg\" class=\"img-fluid mb-20\" alt=\"The Federalist logo eagle mark\" \/>    <\/p>\n<p>Unlock commenting by joining the Federalist Community.<\/p>\n<p>    <a href=\"https:\/\/thefederalist.com\/plans\/pricing\/\" class=\"btn btn-on-white\">Subscribe<\/a>  <\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Amid the Biden administration\u2019s recession, Congress is reportedly planning to increase taxes. Democrats\u2019 \u201cBuild Back Better\u201d legislation, which would raise taxes to fund \u201cgreen energy\u201d subsidies, appears to be getting<\/p>\n","protected":false},"author":836,"featured_media":1897863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1582671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/thefederalist.com\/2022\/08\/01\/remember-how-democrats-said-not-to-raise-taxes-in-a-recession-thats-what-theyre-doing\/?utm_source=rss&utm_medium=rss&utm_campaign=remember-how-democrats-said-not-to-raise-taxes-in-a-recession-thats-what-theyre-doing","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1582671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/836"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1582671"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1582671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1897863"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1582671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1582671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1582671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}