Joe Biden Will Raise Taxes On All Americans If Reelected—Not Just the Rich

Do you make over $11,000 a year? Congratulations! According to President Joe Biden, you’re rich, and you need to pay more taxes!

Yes, really—Joe Biden has promised to let the 2017 Trump tax cuts expire at the end of 2025 if he gets reelected because they “overwhelmingly benefited the wealthy.”

True, the Trump tax cuts—formally the Tax Cuts and Jobs Act of 2017, or TCJA—did benefit the wealthy. But they also benefited taxpayers making $11,000  a year who saw their tax rate decrease from 15% to 10%. So when the cuts expire, that rate goes back up to the pre-Trump levels. And if you have children, you’ll lose half of your child tax credit.

So much for that “nobody making under 400,000 bucks will pay more in taxes” campaign pledge.

(Read more: Joe Biden’s Junk Fees, Junk Promises, Junk Politics)

But wait, there’s more!

Average Joes in America— and below-Average Joes for that matter— get the Bidenflation double-whammy on top of their taxes going up. New analysis shows the average American has to spend over $11,000 more a year just to maintain the standard of living they had when Biden took office in 2021. That hammers the middle and lower income brackets.Eighty percent of the increases appear in the necessities categories like food, transportation, and housing.

Let’s put this into perspective.If you were completely broke in 2021, you now need $11,000 a year just to keep up with being broke . . . and your tax rate will go up if Big Guy Joe Biden gets his way.

Feeling queasy yet? The way Joe Biden is about to hammer Americans of all walks of life will make you want to throw up.

Scranton Joe Will Make You Subsidize Rich Democrat-run States

When the Trump tax cuts expire, residents in wealthy, high income tax states like New York and Illinois will get to write off their state and local taxes (SALT) at the expense of residents of low and no income tax states. For example, Arizonans have a flat 2.5% income tax rate, but you may not realize that the SALT deduction means you’ll subsidize massive write-offs in California, where the state rate is 13.5%. And residents of Michigan and North Carolina, which have flat tax rates at or below 4.5%, will likewise subsidize the same rich people who Joe Biden knows he needs to win re-election.

Or, say you live in Georgia. Your legislature just implemented a flat rate that will decrease every year for the next 40 years. But under the Biden tax plan, people who will see their state tax rate drop from 5.75% to 5.39% in 2024 will see a 5% increase in their federal taxes in 2026. 

Finally, family-owned businesses will take the brunt of Joe Biden’s tax hike. The Small Business Deduction, a key plank of the Tax Cuts and Jobs Act of 2017, allowed certain job-creating, hard-working business owners to deduct up to 20% of their income so they can focus on hiring people and benefiting their community instead of giving the IRS more of their income.

Small Business Owner? Joe Biden Says You’re the 1%

This benefit helped Wisconsin’s Austin Ramirez, who employs 1,600 people at his vehicle parts manufacturing company, to fund a “significant renovation” for the company headquarters. Things will get even worse for Ramirez and millions of other employers, because Biden has also promised to raise the corporate tax rate to 28%. This is a tax that doesn’t just hurt corporate executives – it also works its way down to their employees (many of whom got raises due to the TCJA) and their customers.

To recap: Across the country, hard-working Americans making as little as $11,000 are the “rich” on whom Biden is going to raise taxes. You might have the least amount of real dollars leftover after expenses since the 1990s, but for Biden, winning re-election by waging war on the “rich” is more important than making sure your income taxes and everyday expenses are actually . . . affordable. 

Paul Revere is the pseudonym of a conservative writer.