TAX HIKE RELIES ON RICH VOTERS
May 9, 2021 - Douglas Myser
Tax hike relies on rich voters. When President Biden was running for office, he stated outright that he was planning on raising the taxes on anyone earning over $400,00 a year, and on Corporate America. And yet he was elected President. Why ? Because he stated emphatically that for too long a large chunk of America had been left behind, had become despondent over their future, and that we need a reset of priorities in our nation. After the ravages of COvid-19, the societal problems of those without health insurance, the ranks of the unemployed, the manufacturing base losses, and the swelling of homelessness, made that easy for most to understand. Tax hike relies on rich voters.
After pushing a $1.9 trillion pandemic recovery bill through Congress on party line votes, Biden has outlined even more spending to build or repair infrastructure and to buttress social welfare programs, which he argues would benefit working class and middle class taxpayers. The new spending would be partially paid for by an increase in the corporate tax rate--to 28% from 21%--and by returning the top rate for individuals to the 39.6% of the Clinton and Obama eras. Biden has promised that no household making less than $400,000 a year would pay more in taxes. "I think President BIien gets it. He's selling this plan primarily as a way to rebuild America." Malinowski said. "That all makes sense to the people I represent. That's an investment with so high a return."
Malinowski flipped his suburban district to the Democrats in 2018 on a campaign of fiscal responsibility, an issue once thought of as a good idea. Representative Tom Suozzi's district ranks sixth in the nation by that same measure. but for the New York Democrat addressing income inequality is a selling point. "I'm not a soak the rich type of person, but I'm a fairness person, Suozzi said. "The pandemic has been cruelly uneven. I don't want to see the solution of our income inequality be done solely through a redistribution method.."