Biden the pickpocket

When Joe Biden says his $6 trillion spending and $3 trillion tax hike American Bankruptcy Plan will help the middle class, don’t believe him.

Call Biden’s over $3 TRILLION tax hike what it is...

The American Bankruptcy Plan pic.twitter.com/XL5P0CRLy3

— RNC Research (@RNCResearch) May 1, 2021

Far from helping the middle class, Biden’s tax hikes will effectively pick the pockets of American workers, lowering wages all while funneling trillions to bureaucrats in Washington, D.C.

• Economists warn Biden’s anti-competitive tax hikes would hurt small businesses, workers, and consumers, while reducing entrepreneurship and curbing investment.
• The Tax Foundation projects that not only would hiking capital gains shrink the economy, but it would actually decrease federal revenues by $124 billion over 10 years.
• Studies indicate that the business tax hike in the “infrastructure” portion of Biden’s American Bankruptcy Plan would threaten 159,000 American jobs and lower workers’ wages.
• The Penn Wharton Budget Model analysis of Biden’s “infrastructure” plan found that it would shrink the economy and lower wages.
• A Rice University study similarly found that tax hikes Biden has endorsed – such as the corporate tax rate hike in Biden’s plan – would kill one million jobs in two years.

Thanks to the pro-growth policies of the Trump administration and Republicans in Congress, American workers saw the highest wage growth in over a decade, with the growth especially pronounced for lower income Americans.

Biden wants to reverse these policies, and the result will be richer bureaucrats, a smaller economy, and less money in Americans’ paychecks.