{"id":785458,"date":"2021-09-17T18:44:03","date_gmt":"2021-09-17T22:44:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=785458"},"modified":"2021-09-17T18:44:05","modified_gmt":"2021-09-17T22:44:05","slug":"7-ways-democrats-would-raise-taxes-on-people-making-less-than-400000","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/7-ways-democrats-would-raise-taxes-on-people-making-less-than-400000\/","title":{"rendered":"7 Ways Democrats Would Raise Taxes On People Making Less Than $400,000"},"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\">24<\/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%2F7-ways-democrats-would-raise-taxes-on-people-making-less-than-400000%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=785458&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--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/09\/C7A19AC9-F839-4944-B1FD-93DB47CD250E-scaled-e1631918239997.jpeg?w=1200&amp;h=800&amp;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>President Joe Biden <a href=\"https:\/\/twitter.com\/JoeBiden\/status\/1306644082597531654\">promised<\/a> voters on the campaign trail, \u201cIf you make under $400,000, you will not pay a penny more in taxes when I\u2019m president.\u201d He repeated his pledge <a href=\"https:\/\/www.atr.org\/BidenPledge\">numerous<\/a> times on the road to the White House and still maintains this intention to this day. But the economic proposals made by Biden and his fellow Democrats would let the IRS squeeze more revenue out of working people. Here are just a few of the proposed policies, tax increases, and additional fees that will hit people well below the <a href=\"https:\/\/www.wsj.com\/articles\/why-biden-would-start-tax-increases-at-400-000-a-year-11601730000\">top 1.8%<\/a> of income earners.<\/p>\n<p><strong>1. ATF firearm registration<\/strong><\/p>\n<p>President Biden endorsed a proposal that would extract hundreds or thousands of dollars from Americans of all income levels: He would force people to register semiautomatic weapons, as well as magazines that hold more than 10 rounds of ammunition, with the federal government \u2014 and charge a registration fee for each item.<\/p>\n<p>Candidate Biden promised to institute a \u201cbuy back\u201d program for \u201cassault weapons\u201d and \u201chigh-capacity\u201d magazines. His campaign website <a href=\"https:\/\/joebiden.com\/gunsafety\/\">explained<\/a> that Biden would \u201cgive individuals who now possess assault weapons or high-capacity magazines two options: sell the weapons to the government, or register them under the National Firearms Act.\u201d<\/p>\n<p>The federal government charges a <a href=\"https:\/\/www.dailywire.com\/news\/breaking-biden-announces-executive-order-crackdown-on-guns-new-anti-gun-atf-director\">$200<\/a> fee on each item registered under the FDR-era NFA. \u201cThe law imposed a $200 tax on firearms enumerated in the act, a tax that has not changed since 1934. Those who don\u2019t comply with the tax could face fines or imprisonment, as well as&nbsp;<a href=\"https:\/\/www.law.cornell.edu\/uscode\/text\/26\/7201\">a felony charge<\/a>,\u201d <a href=\"https:\/\/www.politifact.com\/article\/2020\/nov\/01\/does-joe-bidens-plan-tax-semi-automatic-firearms\/\">according<\/a> to PolitiFact.<\/p>\n<p>Americans already own an estimated <a href=\"https:\/\/www.forbes.com\/sites\/joewalsh\/2021\/03\/25\/us-has-at-least-20-million-assault-rifles-a-ban-wouldnt-reduce-that-number\/\">15 to 20 million<\/a> firearms that would be dubbed \u201cassault weapons\u201d under previous legislative language written by then-Senator Biden \u2014 including millions of AR-15s, perhaps the most popular self-defense weapon in the United States.<\/p>\n<p>Many gun owners also possess multiple magazines for each handgun, with most holding more than 10 rounds. Biden has not suggested the government waive the $200 registration fee (or provide a government subsidy) for those who earn less than $400,000 annually.<\/p>\n<p>\u201cRegardless of one\u2019s opinion on guns and gun control, it is obvious that this proposal will disproportionately impact poor and working-class communities,\u201d <a href=\"https:\/\/www.washingtonpost.com\/outlook\/2020\/07\/16\/biden-gun-control-poverty\/\">wrote<\/a> Brooklyn-based labor organizer Kim Kelly in The Washington Post. \u201cBiden\u2019s plan sets in motion a \u2018war on guns,\u2019 the same way his predecessors declared wars on \u2018poverty,\u2019 \u2018crime\u2019 and \u2018terror\u2019 \u2014 wars in which it was inevitably black and brown people who were the real targets.\u201d<\/p>\n<p>The financial pain, which is supposed to discourage gun ownership, will assure that only the wealthy can protect themselves, while those in the most crime-ridden neighborhoods would have a more difficult time defending themselves (and be poorer, to boot).<\/p>\n<p><strong>2. Reinstating the Obamcare penalty<\/strong><\/p>\n<p>When former President Barack Obama transformed the U.S. health care landscape, the plan he unveiled proved so unpopular that he had to threaten to punish anyone who refused to participate. While President Donald Trump lowered this penalty to zero, candidate Joe Biden said he would <a href=\"https:\/\/www.cnbc.com\/2019\/07\/05\/joe-biden-vows-to-bring-back-obamacare-individual-mandate-penalty.html\">reinstate<\/a>&nbsp;the Affordable Care Act\u2019s individual mandate \u2014 and its economic penalty.<\/p>\n<p>The ACA, conventionally known as Obamacare, punitively fines anyone who fails to purchase a qualified health insurance plan $695 for a single person or as much as $2,085 for a family of four. Chief Justice John Roberts famously&nbsp;<a href=\"https:\/\/www.supremecourt.gov\/opinions\/11pdf\/11-393c3a2.pdf\">defined this penalty as a tax<\/a> in the Supreme Court ruling that saved Obamacare from being overturned. Almost three-quarters of the 4.6 million households that paid the penalty had an adjusted gross income of&nbsp;<a href=\"https:\/\/www.atr.org\/biden-cannot-be-trusted-taxes-his-400000-pledge-bogus\">$50,000 or less<\/a>.<\/p>\n<p><strong>3. Carbon tax on home heating and cooking<\/strong><\/p>\n<p>\u201cWe\u2019ve set a goal that by 2025 our power sector will be free of carbon,\u201d President Biden <a href=\"https:\/\/twitter.com\/thehill\/status\/1438889321424166921\">announced<\/a> on Friday. Democrats on the Senate Finance Committee have included a tax on carbon in a list of formal <a href=\"https:\/\/www.scribd.com\/document\/523044904\/SFC-Dems-Possible-Revenue-Provisions-and-Descriptions\">proposals<\/a> obtained by <a href=\"https:\/\/www.nbcnews.com\/politics\/congress\/senate-democrats-float-tax-options-pay-biden-s-multi-trillion-n1278470\">NBC News<\/a>.<\/p>\n<p>Although Democrats dub this \u201ccarbon pricing,\u201d internal documents clearly refer to it as a \u201ctax.\u201d They are weighing three separate proposals: \u201ca per-ton tax\u201d on the carbon dioxide content of such fossil fuels as coal, oil, and natural gas starting at $15 per ton and \u201cescalating over time\u201d; \u201ca tax\u201d on industries like U.S. steel or cement makers for each ton of CO2 emissions; or \u201ca per-barrel tax\u201d on crude oil.<\/p>\n<p>Senate Democrats privately appear to admit that each \u201ctax\u201d would hit the poor, because the leaked document plainly states, \u201cEach option would be paired with rebates or other direct relief for low-income taxpayers.\u201d When talking amongst themselves, Democrats appear to admit that their scheme would force low-income people to pay the carbon tax, then have U.S. taxpayers repay all or a portion of the added cost at the end of the year.<\/p>\n<p><strong>4. Methane fee<\/strong><\/p>\n<p>In a more concrete step, on September 14, the Democrat-controlled House Energy and Commerce Committee <a href=\"https:\/\/www.eenews.net\/articles\/committee-oks-methane-fee-launches-debate-on-climate-plan\/\">passed<\/a> a fee on methane, which is the <a href=\"https:\/\/www.eia.gov\/energyexplained\/natural-gas\/\">largest component<\/a> of natural gas, used for home heating and cooking. But it is also a greenhouse gas, so the Green movement deems it a building block of the impending \u201cexistential climate emergency.\u201d And they <a href=\"https:\/\/www.ourdocuments.gov\/print_friendly.php?flash=false&amp;page=&amp;doc=21&amp;title=McCulloch+v.+Maryland+%281819%29\">recognize<\/a>, \u201cThe power to tax is the power to destroy.\u201d<\/p>\n<p>The Democrats\u2019 methane fee is based on legislation from Senators Sheldon Whitehouse (D-RI) and Cory Booker (D-NJ), which would charge <a href=\"https:\/\/www.whitehouse.senate.gov\/news\/release\/whitehouse-booker-schatz-unveil-methane-fee-to-clamp-down-on-potent-driver-of-climate-change\">$1,800 per ton<\/a>, and increase by 2% above inflation each year. Worse yet, the proposal taxes a company on the amount of methane they <em>handle<\/em>, not on their methane <em><a href=\"https:\/\/www.willistonherald.com\/news\/oil_and_energy\/methane-fee-divorced-from-actual-emissions-sets-off-alarm-bells-across-industry\/article_ee574cc0-10bd-11ec-8a1b-ff2347bc75be.html\">emissions<\/a><\/em> into the environment.<\/p>\n<p>\u201cGiven the magnitude of the fee, natural gas utilities will likely seek cost recovery,\u201d <a href=\"https:\/\/senatorkevincramer.app.box.com\/s\/rskiuftqmeh35t3erpi8zyb0sygiifml\">wrote<\/a> Senator Kevin Cramer (R-ND), which \u201cresults in increased costs for consumers at every income level. Households, including those the [p]resident promised wouldn\u2019t see a tax increase, will inevitably have to foot the bill.\u201d<\/p>\n<p>The natural gas industry says the fee could \u201cresult in the average customer seeing an approximate increase of 17% in their natural gas bill, or over $100 per year for the average American family,\u201d <a href=\"https:\/\/www.aga.org\/globalassets\/letter-to-congress-on-methane-fees-090721_final.pdf\">according<\/a> to the American Gas Association. \u201cWe also estimate that the proposal could put more than 100,000 American jobs at risk.\u201d<\/p>\n<p>Some Democratic congressmen have attempted to defend the methane tax by using word games. \u201cThis is not a tax. It\u2019s a fee on natural gas waste,\u201d <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy\/daily-on-energy-house-democrats-work-to-keep-centrists-on-board-with-methane-fee\">said<\/a> Rep. Diana DeGette (D-CO).<\/p>\n<p>But Republicans say the measure clearly violates President Biden\u2019s campaign pledge to restrict tax hikes to the wealthiest Americans. \u201cI don\u2019t think you can credibly say that this will have no effect on anyone who earns less than $400,000 a year unless you\u2019re going to establish an elaborate rebate system for people in that price range,\u201d&nbsp;said Rep. Michael Burgess (R-TX).<\/p>\n<p><strong>5. Plastic tax<\/strong><\/p>\n<p>Democrats have been zealous about recycling plastic for decades. Democrats on the Senate Finance Committee have also proposed that lawmakers \u201c[i]mpose a $.20 per pound fee on the sale of virgin plastic used to make single-use plastics, which are routinely disposed of as trash or end up in marine ecosystem as marine debris.\u201d The \u201cPlastic Excise Tax,\u201d which is also on the list of the committee\u2019s proposals, would be passed on through higher costs imposed on everyone who purchases anything made with plastic. \u201cThe Democrats\u2019 tax on plastics is a tax on every middle income American,\u201d <a href=\"https:\/\/www.atr.org\/democrats-eye-national-plastic-tax\">said<\/a> Grover Norquist, president of the pro-tax-cutting organization <a href=\"https:\/\/www.atr.org\/\">Americans for Tax Reform<\/a>.<\/p>\n<p><strong>6. Cigarette tax<\/strong><\/p>\n<p>Democrats plan to impose \u201csin taxes\u201d on tobacco and nicotine products to reduce smoking (and, possibly, to harm the tobacco industry, which is based in Republican states and has funded conservative causes in the past). As The Daily Wire\u2019s Ben Zeisloft <a href=\"https:\/\/www.dailywire.com\/news\/how-the-democrats-new-tax-hike-will-impact-your-wallet\">reported<\/a>, \u201cThe Democrats\u2019 tax plan would also double the existing excise tax on popular tobacco products \u2014 including cigarettes and small cigars \u2014 from $50.33 per thousand to $100.66 per thousand.\u201d<\/p>\n<p>This regressive tax will disproportionately fall on the poor. \u201cThe vast majority of smokers have lower incomes, and tobacco is one of the few goods that have an inverse relationship with income in that consumption increases as income decreases,\u201d <a href=\"https:\/\/taxfoundation.org\/house-tobacco-proposal-bidens-tax-pledge\/\">according<\/a> to the Tax Foundation. \u201cToday, at a national level, a pack-a-day-smoker making $15,000 a year pays almost 10 percent of their income in tobacco taxes (state and federal). The proposed increase takes that figure to 12 percent. For someone making $35,000 that\u2019s 4.1 percent today and 5.2 percent after the tax increase.\u201d All of those incomes fall substantially below $400,000.<\/p>\n<p><strong>7. Inflation<\/strong><\/p>\n<p>Inflation has taken off under President Biden, thanks in no small part to a flood of currency entering the economy through government overspending. While reckless government spending did not begin with President Biden, his embrace of multiple trillion-dollar plans will put the downward slide into warp speed.<\/p>\n<p>Inflation has already pulled up prices everywhere Americans spend money, especially on essentials. The price of staples like food have&nbsp;<a href=\"https:\/\/www.foxbusiness.com\/economy\/grocery-prices-to-rise-kroger\">risen steadily<\/a>, with the cost of beef rising 14% this year, pork by 12%, and poultry by 6.6%. Gasoline prices are up <a href=\"https:\/\/www.wsj.com\/articles\/joe-biden-has-an-inflation-problem-federal-reserve-labor-department-consumer-prices-11628717602\">42%<\/a> over last year.<\/p>\n<p>Henry Hazlitt explained in his book <a href=\"https:\/\/fee.org\/media\/14946\/economicsinonelesson.pdf\">Economics In One Lesson<\/a>:<\/p>\n<blockquote readability=\"11\">\n<p><em>Inflation is a form of taxation. It is perhaps the worst possible form, which usually bears hardest on those least able to pay.&nbsp;\u2026 It discourages all prudence and thrift. It encourages squandering, gambling, reckless waste of all kinds. It often makes it more profitable to speculate than to produce. It tears apart the whole fabric of stable economic relationships.<\/em><\/p>\n<\/blockquote>\n<p>There can hardly be a crueler tax on the poor that raising the price of food. Throw in the planned price increases for natural gas, cigarettes, and firearms, and President Biden\u2019s economic policy looks less like Robin Hood than it does a war on the working class.<\/p>\n<p><em>The views expressed in this piece are the author\u2019s own and do not necessarily represent those of The Daily Wire<\/em>.<\/p>\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a&nbsp;<\/em><a href=\"https:\/\/www.dailywire.com\/subscribe\"><em>member<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden promised voters on the campaign trail, \u201cIf you make under $400,000, you will not pay a penny more in taxes when I\u2019m president.\u201d He repeated his pledge &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-785458","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\/785458","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=785458"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/785458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=785458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=785458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=785458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}