Joe Biden has taken less than one year to wreck the country.
He’s currently attempting to make the economy even worse.
And Biden’s insane spending bill is even worse than anyone thought.
Joe Biden and the Democrats are itching to cram through their so-called “Build Back Better” agenda, a globalist project first conceived by World Economic Forum leader Klaus Schwab.
“Build Back Better” has become a slogan of prominent politicians around the globe, and the intent is the same: seize more control over the public into centralized hands.
Biden keeps trotting out the lie that his Build Back Better plan won’t cost middle class taxpayers anything, but even Democrats Kyrsten Sinema and Joe Manchin know that’s a lie, which is why they have held up the legislation.
Even the Tax Policy Center – a project of the left-wing Urban Institute and Brookings Institution – admitted as much as 30% of the middle class could see their taxes go up.
TPC claims the increased taxes would be minimal, but only for a time.
TPC research admitted:
“The picture would change somewhat in 2023. Among the reasons: The bill would extend the 2021 expansions of the Child Tax Credit (CTC) for 2022 only. In addition, one of the major tax increases in the bill, the corporate minimum tax on book income, isn’t scheduled to take effect until 2023. TPC allocates corporate taxes to households, as investors and workers. In general, the combined effects of these changes would result in many households paying higher taxes in 2023 than in 2022. They would shrink the average 2023 tax cuts for low-income households, raise taxes slightly for moderate-income households, and increase taxes significantly for the highest-income households.”
So even a left-wing think tank is acknowledging that taxes will go up.
And what TPC leaves out is the hidden tax of inflation.
Biden cannot pay for his plan by simply taxing “the rich,” so the Federal Reserve will have to print more money out of thin air to fund Build Back Better.
What so many middle class and working poor people have not been told is that inflating the currency is a form of regressive tax that hits them the hardest.
The price of goods and services go up faster than wages.
And interest rates stuck at zero encourage Americans not to save.
That means the asset class – people with stocks and other revenue-producing assets – get richer.
Coronavirus represented the greatest transfer of wealth from the poor and middle class to the rich.
And Biden and the globalists want to push their advantage even more.
Build Back Better is a scam, and Republicans must do everything they can to stop it.
Stay tuned to Right News Wire for any updates to this ongoing story.