DEMOCRAT☭ Biden admin planning BIGGEST TAX HIKE in almost 30 years

Crushing the American people. Lockdowns, job loss, isolation, suicide, metal illness, destruction of millions of small business — now this.

Biden is not legitimate.

Quick note: Tech giants are shutting us down. You know this. Twitter, LinkedIn, Google Adsense, Pinterest permanently banned us. Facebook, Google search et al have shadow-banned, suspended and deleted us from your news feeds. They are disappearing us. But we are here. We will not waver. We will not tire. We will not falter, and we will not fail. Freedom will prevail.

Subscribe to Geller Report newsletter here — it’s free and it’s critical NOW when informed decision making and opinion is essential to America's survival. Share our posts on your social channels and with your email contacts. Fight the great fight.

Follow me on Gettr. I am there, click here. It's open and free.

Remember, YOU make the work possible. If you can, please contribute to Geller Report.

Biden reportedly planning largest tax hike in almost 30 years

By: Phil Shiver, The Blaze, March 15, 2021

President Joe Biden is reportedly planning the largest hike in federal taxes in almost three decades to fund a long-term economic recovery program to follow in the footsteps of the recently passed $1.9 trillion stimulus package.

Unnamed sources confirmed the plans to Bloomberg News over the weekend, reportedly indicating that the major tax hike — the first since 1993 — is expected to pay for key Biden administration initiatives such as “infrastructure, climate, and expanded help for poorer Americans.”

But the sources said the planned changes are not designed to fund only the key priorities of the administration. With the tax hike, Biden’s team hopes to address what Democrats argue are “inequities in the tax system itself.” According to the Bloomberg report, the changes include:

  • Raising the corporate tax rate to 28% from 21%
  • Paring back tax preferences for so-called pass-through businesses, such as limited liability companies or partnerships
  • Raising the income tax rate on individuals earning more than $400,000
  • Expanding the estate tax’s reach
  • A higher capital gains tax rate for individuals earning at least $1 million annually
“His whole outlook has always been that Americans believe tax policy needs to be fair, and he has viewed all of his policy options through that lens,” Sarah Bianchi, a former Biden economic aide, told Bloomberg. “That is why the focus is on addressing the unequal treatment between work and wealth.”

Bloomberg cited an independent analysis of the plan conducted by the Tax Policy Center, which assessed it would raise taxes on American citizens by $2.1 trillion over 10 years. The group originally projected the plan would raise taxes by $4 trillion over a decade, but revised its forecast last November.

The plans are unsurprising coming from the Biden administration and progressive Democratic lawmakers, who have already shown a willingness to raise taxes to accomplish their policy goals. Democrats snuck $60 billion in tax hikes into the coronavirus relief bill even as the country faces continued economic difficulty as a result of the pandemic.

However, despite falling in line with Biden’s campaign promises and demands from progressive lawmakers, any major tax hikes may face an uphill battle in Congress. Tax hikes, especially if they result in a repeal of former President Trump’s 2017 tax cuts, are a non-starter for Republicans. Likewise, moderate Democrats have shown some reluctance to the idea.

Moderate Democratic Sen. Joe Manchin (W.Va.) previously told The Hill repealing Trump’s tax cuts would be a “ridiculous” idea, though he later added, “Everything’s open for discussion.”

Then last month, an anonymous Democratic House member told The Hill the government should not be raising taxes.

“People would accept the corporate tax raised a few points, but beyond that you’re going to have problems, especially in the middle of an economic crisis,” the lawmaker reportedly said.

Have a tip we should know? Your anonymity is NEVER compromised. Email tips@thegellerreport.com

The Truth Must be Told

Your contribution supports independent journalism

Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.

Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.

Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.

Please contribute here.


Make a monthly commitment to support The Geller Report – choose the option that suits you best.

Pin It on Pinterest