Remember how the Left promised – really promised – that only the mega-rich would be targeted by tax hikes?
Remember how the Left then went out and spent money that doesn't exist and can only be paid for with massive tax hikes?
Shot:
Chaser:
White House press secretary Jen Psaki on Wednesday clarified that President Biden's proposed tax hike would apply to people who earn $200,000 per year if they are married to someone who makes the same amount.
Psaki said at her daily press briefing that the proposed $400,000 threshold for tax increases applies to "families" rather than individuals.
But wait ... Biden promised America – he even prefaced it with an ever-so-serious "Let me be clear" – that he would not raise taxes "by a dime" on "anyone" earning less than $400K. AnyONE. Any individual. Not any FAMILY.
He even reiterated this on Wednesday:
The clarification significantly lowers the tax-hike threshold announced by Biden in an ABC News interview that aired Wednesday.
Biden's interview statement appeared to indicate the cutoff would be $400,000 in individual income.
"Yes, anybody making more than $400,000 will see a small to a significant tax increase," Biden told George Stephanopoulos.
Biden added, "If you make less than $400,000, you won't see one single penny in additional federal tax."
Yeah, reality comes at ya fast.
Yep, no matter how much government spends, it always runs out of other people's money sooner or later.
Those who don't learn from history are doomed to repeat it. When the Soviets told the people that the rich kulak farmers were the problem, they believed it. After all, why should anyone own more than 50 acres of land?
Once the government had seized all that property, they asked why anyone should own 20 acres of land, and then 10 acres of land, and then one acre of land. By the 1930s, pretty much every landowner's assets had been liquidated.
That is the point of communism, after all.
If you think it'll stop at $200,000, get ready to be surprised.
Oh, and with inflation scheduled to rise, everyone's dollar will be worth less, meaning the Left gets to shift the goalpost that way too.
It's a win-win for them.... at least, until the whole house of cards collapses.
If there's a few things more enduring than the Left's adherence to socialistic tax hikes, it's the laws of economics, human nature, and gravity.
What goes up must come down!
