May 09, 2024

The Comiong Bidenomics

Sandy Jane Wong

Biden's plan will cost an arm and a leg.
Trump’s tax cuts expire in 2025, Biden says they will stay expired which will raise everyone’s taxes in 2026. Furthermore, Social Security and Medicare are headed toward depletion, and without a fix from Congress, retirees will see steep payment cuts of 21% in less than a decade.
A single person making $75,000 per year will be billed more than $1,700 more than they paid in 2025.

* A married couple with two children making $165,000 annually would pay $2,450.50 more than in the previous year.
* A family with three kids pulling in $200,000 per year will shell out almost $7,500 more per year.

In March, the GOP House Ways and Means committee said, "President Biden’s $7 trillion tax increase on small businesses and families means fewer jobs and higher prices.”

Posted by: Timothy Birdnow at 09:55 AM | No Comments | Add Comment
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