{"id":1593808,"date":"2022-08-08T07:31:33","date_gmt":"2022-08-08T11:31:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1593808"},"modified":"2022-08-08T07:33:33","modified_gmt":"2022-08-08T11:33:33","slug":"biden-is-about-to-break-his-promise-not-to-raise-taxes-on-most-americans","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-is-about-to-break-his-promise-not-to-raise-taxes-on-most-americans\/","title":{"rendered":"Biden Is About To Break His Promise Not To Raise Taxes On Most Americans"},"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\">28<\/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%2Fbiden-is-about-to-break-his-promise-not-to-raise-taxes-on-most-americans%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=1593808&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>After years spent trying to redefine the word \u201csex,\u201d the <a href=\"https:\/\/www.whitehouse.gov\/cea\/written-materials\/2022\/07\/21\/how-do-economists-determine-whether-the-economy-is-in-a-recession\/\">Biden administration<\/a> and a <a href=\"https:\/\/www.msn.com\/en-us\/news\/other\/biden-white-house-talking-points-redefining-recession-quickly-embraced-by-media-outlets\/ar-AA102bxv?ocid=entnewsntp&#038;cvid=f400333bb2b64a2fa42a319bc37cad3b\">sycophantic media<\/a> recently tried to <a href=\"https:\/\/thefederalist.com\/2022\/07\/26\/bidens-economic-delusions-and-deceptions-snub-struggling-families\/\">redefine the term<\/a> \u201crecession\u201d to suit Democrats\u2019 political purposes.<\/p>\n<p>Now, Democrats want to redefine the word \u201ctax,\u201d as they attempt to explain away the fact that their tax-and-spend extravaganza won\u2019t only hit \u201cthe rich,\u201d but will hammer middle class families. The American people shouldn\u2019t buy it\u2014or any other Orwellian (or, if you prefer, <a href=\"https:\/\/www.youtube.com\/watch?v=BS-cip2brsg\">Clintonian<\/a>) attempt to redefine simple words and concepts.<\/p>\n<h2><strong>Non-Partisan Experts<\/strong>: Get Ready to Pay More Taxes<\/h2>\n<p>The debate comes as Congress\u2019 nonpartisan arbiter, the Joint Committee on Taxation, released a report on the tax-and-spend measure the Senate passed Sunday, paving the way for House Democrats\u2019 majority and Biden to pass it into law. The <a href=\"https:\/\/www.finance.senate.gov\/imo\/media\/doc\/jct_distributional_effects_inflation_reduction_act.pdf\">analysis<\/a> found that Americans in all income brackets will see an increase in their federal taxes next year, once the bill\u2019s provisions take effect. Look at the column entitled \u201cChange in Federal Taxes,\u201d with the results broken out by income bracket:<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><\/figure>\n<\/div>\n<p>As the table makes clear, middle-class families with household incomes below $200,000 will see their taxes increase by more than $16.7 billion next year alone. When considering that households earning between $200,000 and $500,000 will pay another $14.1 billion in taxes, roughly half of the $54.3 billion in new taxes assessed under the bill will be paid by families earning less than $400,000 per year\u2014whose taxes Biden <a href=\"https:\/\/abcnews.go.com\/Politics\/transcript-joe-biden-kamala-harris-joint-interview-abcs\/story?id=72541513\">pledged not to raise<\/a>.<\/p>\n<h2><strong>Working Folks Pay for Taxing \u2018Rich Companies\u2019<\/strong><\/h2>\n<p>Marc Goldwein, of the Committee for a Responsible Federal Budget, <a href=\"https:\/\/www.msn.com\/en-us\/news\/politics\/battle-erupts-over-claim-manchin-bill-raises-middle-class-taxes\/ar-AA10eYIg?ocid=entnewsntp&#038;cvid=bfbf7ed32c5a4c3f906c4d0405a216aa\">explained to Bloomberg<\/a> the reasoning behind the JCT analysis. While the Democrat tax-and-spend bill would raise corporate taxes, \u201cultimately, \u2018people pay taxes.\u2019\u201d<\/p>\n<p>JCT, like most economic modelers, assumes that those corporate taxes will get passed on to individuals, whether in the form of lower wages or higher prices. Of course, those developments come at a time inflation continues to <a href=\"https:\/\/thefederalist.com\/2022\/07\/26\/bidens-economic-delusions-and-deceptions-snub-struggling-families\/\">eat away at family budgets<\/a>, and real (i.e., inflation-adjusted) earnings <a href=\"https:\/\/www.bls.gov\/news.release\/archives\/realer_07132022.pdf\">continue to decline<\/a>.<\/p>\n<p>In other words, at a time families find it harder and harder to pay their bills every month, the Democrat bill would impose even more pain on working families, giving them an(other) effective pay cut.<\/p>\n<h2><strong>Government Picking Winners and Losers<\/strong><\/h2>\n<p>Goldwein continued with an argument Democrats have made in an attempt to deflect criticism about these tax increases: \u201cOnce you account for the spending side and the other taxes that are left out\u2014and that includes the household consumer tax credits for various energy things, lower drug prices, and health care subsidies\u2014the middle class is going to be distributionally ahead.\u201d<\/p>\n<p>That argument doesn\u2019t hold water, for several reasons. First, nearly three-quarters (73.1 percent) of the Obamacare subsidy spending doesn\u2019t come in the form of lower revenues, but <a href=\"https:\/\/www.cbo.gov\/system\/files?file=2022-07\/58313-Crapo_letter.pdf\">outlay spending<\/a>. In other words, those subsidy payments aren\u2019t tax cuts for people who pay income taxes, but <a href=\"https:\/\/thefederalist.com\/2022\/07\/25\/lefts-latest-health-care-scheme-will-worsen-inflation-the-deficit-and-your-insurance\/\">welfare spending<\/a> over and above any income tax obligations those particular households would face.<\/p>\n<p>More importantly, however, this type of argument shows a fundamental dishonesty. Biden didn\u2019t claim during the 2020 campaign that \u201cMiddle class families will pay more in taxes\u2014but they\u2019ll get more back in benefits.\u201d He <a href=\"https:\/\/abcnews.go.com\/Politics\/transcript-joe-biden-kamala-harris-joint-interview-abcs\/story?id=72541513\">pledged<\/a> \u201cno new taxes\u201d for families with incomes under $400,000.<\/p>\n<p>For Biden and the left to now try to redefine their promise doesn\u2019t just represent a campaign pledge broken. It\u2019s an attempt to justify yet another attempt by government to pick winners and losers\u2014lawmakers and bureaucrats bestowing favors on politically connected individuals, or those who engage in behaviors Democrats approve of (i.e., \u201chousehold consumer tax credits for various energy things.\u201d)<\/p>\n<h2><strong>Echoes of Obamacare Debate<\/strong><\/h2>\n<p>We\u2019ve seen this all before. In 2009, Barack Obama tried to claim that Obamacare\u2019s individual mandate\u2014which assessed financial penalties on Americans who couldn\u2019t afford to buy health insurance\u2014did not constitute a tax increase.<\/p>\n<p>But George Stephanopoulos, of all people, called him on it, quoting the <a href=\"https:\/\/www.merriam-webster.com\/dictionary\/tax\">dictionary definition<\/a> of \u201ctax\u201d to Obama as entirely consistent with the mandate: \u201cA charge, usually of money, imposed by authority on persons or property, for public purposes.\u201d<\/p>\n<p>All Obama could do in reply was snicker, claiming that \u201cthe fact that you looked up Merriam\u2019s dictionary, the definition of tax increase, indicates to me that you\u2019re stretching a little bit right now.\u201d<\/p>\n[embedded content]\n<p>It speaks volumes about the popularity (or lack thereof) of their policies that Democrats continually feel the need to misrepresent their legislative proposals. But ultimately, the American people will recognize the impact in their wallets of <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\/\">raising taxes during a recession<\/a>\u2014and remember at the ballot box, both in November, and in years to come.<\/p>\n<hr class=\"wp-block-separator\" \/>\n<div class=\"article-author-description fst-italic\">\n  Chris Jacobs is founder and CEO of Juniper Research Group, and author of the book, &#8220;<a href=\"https:\/\/www.amazon.com\/dp\/1645720020\">The Case Against Single Payer<\/a>.&#8221; He is on Twitter: <a href=\"http:\/\/www.twitter.com\/chrisjacobshc\">@chrisjacobsHC<\/a>. Previously he was a senior health policy analyst for the Texas Public Policy Foundation, a senior policy analyst in The Heritage Foundation\u2019s Center for Health Policy Studies, and a senior policy analyst with the Joint Economic Committee\u2019s Senate Republican staff. During the debate over the Patient Protection and Affordable Care Act, popularly known as Obamacare, Jacobs was a policy adviser for the House Republican Conference under then-Chairman Mike Pence. In the first two years of the law\u2019s implementation, he was a health policy analyst for the Senate Republican Policy Committee. Jacobs got his start on Capitol Hill as an intern for then-Rep. Pat Toomey (R-Pa.). He holds a bachelor\u2019s degree in political science and history from American University, where he is a part-time teacher of health policy. He currently resides in Washington, D.C.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>After years spent trying to redefine the word \u201csex,\u201d the Biden administration and a sycophantic media recently tried to redefine the term \u201crecession\u201d to suit Democrats\u2019 political purposes. Now, Democrats<\/p>\n","protected":false},"author":521,"featured_media":1593954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1593808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1593808","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\/521"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1593808"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1593808\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1593954"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1593808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1593808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1593808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}