BIDEN THE RICH AND TAX INCREASES
Biden the rich and tax increases. With the political winds shifting, most knew the time for tax increases on the rich was here. A lack of investment in America’s infrastructure, ahs hurt us in a competitive world, where broadband is a must, and having working bridges and highways for a functioning economy should be a given. Falling behind the world in this category is not something we should be proud of, or allow. Having spoken about a large infrastructure bill for over a decade, maybe its time both Republicans and Democrats can agree on this. You would think that with interest rates so low, that this would be the time to get this done. But logic doesn’t always dictate anything on Capital Hill. Sometimes politics get in the way, and whether this is one of those times, only time will tell. The Democrats are prepared to use reconciliation to get it done, so maybe some Republicans, in districts that would win large construction projects, might just go along. Economist are estimating that in the long term, the bounce to the economy, and jobs will outweigh the costs. Biden the rich and tax increases.
“I think what you’re going to see is the administration is going to put a pay for on the table for at least some and maybe all of the infrastructure plan,” said Senator Tim Kaine, Democrat of Virginia. “If team Biden makes a proposal, I’m sure we’ll make adjustments but that’s a good way to start.” Others in the party, including his own Transportation Secretary, have said that there would be no vehicle miles traveled tax in the infrastructure proposal President Biden has stressed his broad brush desire to increase the tax burden on wealthy Americans who largely earn money through inheritance to help people who earn money primarily through wages. “I want to change the paradigm,” President Biden said, “We want to start to reward work, not just wealth.” President Obama had campaigned on ending tax cuts for the rich also. If this continues, the number of people with tax debt may decrease, along with the need for tax resolution services.