Joe Biden has told some whoppers in his lifetime, but his promise to limit tax increases to the rich is among the most laughable. Biden’s record on this issue is clear—he has stuck it to the middle class at every available opportunity.
Given his promise of lavish, massive, European-style expenditures if elected, there is no doubt that the middle class will be forced to foot a large portion of the bill. Biden’s promises to the contrary just don’t add up.
Consider Biden’s vow to repeal President Trump’s historic Tax Cuts and Jobs Act of 2017. With one fell swoop, Biden would rob the middle class of:
- Doubled individual deductions
- Increased child care exemptions
- 20% QBI deduction for small businesses
Soaking the middle class is par for the course for Joe Biden.
Back in 1981, Congress wisely voted to tie Americans’ taxes to inflation by indexing. Indexing prevents “bracket creep” that kicks you into a higher tax bracket without a real increase in income. In other words, indexing protects American tax payers from paying more in taxes than they should.
Since 1981, we’ve had 35 years of inflation. Imagine the financial fallout for taxpayers without tax indexing. The figures would be jaw-dropping.
Now guess who voted against tax indexing during the Reagan years? If you guessed Joe-Tax-‘Em-‘Till-They-Bleed-Biden, give yourself a gold star.
If Joe Biden had his way, middle-class Americans would be paying the same tax rates that billionaires do.
Don’t be fooled. When Joe Biden says he’ll protect the middle class from astronomical taxes, look him straight in the eye and say, “your vote on tax indexing says otherwise.”