Joe Biden has repeatedly claimed that his tax increases would not affect anyone making under $400K.
It turns out people making just $200K could be affected by the change. Anyone surprised?
The New York Post reports:
Biden admits tax hike could hit people earning $200K
President Biden on Friday admitted that his $2 trillion infrastructure plan would bring tax increases to some people who earn $200,000 — while insisting that a separate hike on businesses “will not slow the economy at all.”
Biden for weeks has said that his proposed hike on the highest income tax bracket would not hit any person who earns less than $400,000.
But his updated phrasing confirms press secretary Jen Psaki’s recent acknowledgment that a two-partner family would be impacted if combined income crosses $400,000.
Biden told reporters at the White House that his infrastructure plan would be paid for by those who can afford higher taxes.
“It is a once-in-a-generation investment in our economic future, a chance to win the future — paid for by asking big corporations, many of which do not pay any taxes at all, just to begin to pay their fair share. And it won’t raise a penny of tax on a family making less than $400,000 a year, no federal tax, no addition,” he said.
Joe Biden wouldn’t lie, would he?
Exactly what I warned about on @FoxNews last week. Not the only lie, entire thing is Trojan Horse for income redistribution, nailing Middle Class. In middle of a pandemic & econ crisis! "Biden admits tax hike could hit people earning $200K" https://t.co/lfLiU0thpE via @nypost
— Tammy Bruce (@HeyTammyBruce) April 3, 2021
Biden’s so-called American Jobs Plan is a tax increase bill masquerading as an infrastructure bill – which is in turn masquerading as a jobs bill. It will not create jobs or ultimately improve our infrastructure.https://t.co/wefgBdqlco
— Newt Gingrich (@newtgingrich) April 3, 2021
This is exactly what President Trump was saying on Wednesday:
“[M]r. Biden’s corporate tax increases will hit the middle class hard—in the value of their 401(k)s, the size of their pay packets, and what they pay for goods and services.” https://t.co/LsbcLWLwql
— Jason Miller (@JasonMillerinDC) April 1, 2021
Democrats have big plans. They need to get the money somewhere.