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Edward
Lv 7
Edward asked in Politics & GovernmentPolitics · 1 month ago

Biden now wants to raise the income tax is that wise ? ?

10 Answers

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  • Mark
    Lv 7
    1 month ago
    Favourite answer

    Why tried and tried to tell you people he would.

    Source(s): Trump voter
  • Pearl
    Lv 7
    1 month ago

    i dont think so

  • James
    Lv 7
    1 month ago

    Yes, that is a good idea, especially on the 1%.

  • 1 month ago

    The Antipotus doesn't have the Bolshevik spirit of confiscation yet. Chasing wealth out of the country is just the lesser option to Marxist kleptomania. Give them some more time, and they will just take it. Then the bodies will begin to pile up like they did in Ukraine.. 

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  • 1 month ago

    Of course it isn't.

    The problem, as I've been telling my wife for decades regarding our household finances, is one of spending, not revenues.

    And increasing taxes doesn't necessarily result in an equivalent increase in revenues.  The Laffer Curves illustrate that truism. 

    Another economic truth is that for every dollar taken from the economy in taxes, economic growth is reduced by over two dollars.  After all, a dollar taken in taxes experiences no multiplier effect.  In fact, that dollar is taken in taxes twice or more.  You need to consider all the people who will see that increased tax on that dollar.  Taxes are paid by: the employer, the employee, the businesses the employee uses, their suppliers, etc.  It's only long chain of increased taxes.

    Biden's tax increase will have as desultory an effect on the economy as the increases in the cost of energy his decisions have already had.  

    Better strap in, it's gonna be a bumpy ride until 2022 (hopefully).

  • Anonymous
    1 month ago

    All while we can't work because the kids are home. 

    DESPITE the fact that scientists KNEW kids were safe at 3 feet apart.

    They knew that last June. 

    Scientists knew we had a successful vaccine several weeks before the election. 

  • 1 month ago

    NO. The left is full of broke people looking for HANDOUTS. REPUBLICANS are the ones that are going to have to PAY for all these taxes!

  • Anonymous
    1 month ago

    Trump wanted to befriend Islamic terrorist groups 

  • Daddio
    Lv 7
    1 month ago

    No, that is a terrible "thought"    

  • Anonymous
    1 month ago

    We should implement a redistribution of wealth tax, we should redistribute Bill Gates wealth

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