Biden keeps saying it and every day it is tweeted by the White House
Under President Biden’s Inflation Reduction Act, big corporations will now pay a 15% minimum tax – so they can’t pay $0 in federal income taxes.
And, no one earning less than $400,000 a year will pay a single penny more in federal taxes.
— The White House (@WhiteHouse) August 18, 2022
Politifact says he said it.
Biden has repeatedly promised that people making less than $400,000 would not see their taxes raised under his plan. Although a video that showed him saying that people making less than a $400,000 won’t “pay a single penny in taxes” is real, the president clearly misspoke during this portion of his speech.
Janet Yellen said it.
Karine Jean-Pierre promised it.
Some people believe it. Thing is, anyone who knows Biden for any length of time knows that he an inveterate liar.
Since then, there are decades of his lies
‘If you get vaccinated, you won’t get COVID.’
The Southern border is closed.
“I have never spoken to my son about his overseas business dealings.”
The list is far too long to attempt to compile in a single post.
Then we come to the fine print in the law.
- President Biden’s $400,000 threshold for tax increases applies to individual filers and not the individual incomes of married couples filing jointly, the White House said Thursday.
- Yellen’s statement echoes the language of the bill itself, which specifically says the IRS funding
is not “intended to increase taxes on any taxpayer or small business with a taxable income below $400,000.” -
White House economic adviser won’t say if 87,000 new IRS agents will audit those making under $400,000
- From the Congressional Budget Office: IRS audits will generate $20B from those making under $400K under Inflation Reduction Act
And the clincher
- Senate Democrats, on a party-line vote, rejected an amendment to their “Inflation Reduction Act” that would ban Internal Revenue Service (IRS) funds from being used to go after working and middle-class Americans with audits and tax hikes.
Biden is lying. Yellen is lying. KJP is lying. All democrats are lying.
Your taxes are going up. You have an excellent chance of being audited if your income is under $400,000 because that’s the money is. Small minority owned businesses will be ripe targets.
All democrats are liars. Biden is the consummate liar. Memorize that. Keep it with you always. It will serve you well.
DrJohn has been a health care professional for more than 30 years. In addition to clinical practice he has done extensive research and has published widely with over 70 original articles and abstracts in the peer-reviewed literature. DrJohn is well known in his field and has lectured on every continent except for Antarctica. He has been married to the same wonderful lady for over 30 years and has three kids- two sons, both of whom are attorneys and one daughter on her way into the field of education.
DrJohn was brought up with the concept that one can do well if one is prepared to work hard but nothing in life is guaranteed.
Except for liberals being foolish.