Donald Trump has outlined his plans for federal taxation should he be elected.
“I will make the Trump tax cuts permanent. You know they expire in a year. And we will cut your taxes even more than that,” he said in a speech in North Charleston, South Carolina, on Feb. 14, 2024.
Trump made the direction clear. Lower.
But President Biden has also made his plan clear: He wants to wallop Americans with a $5 trillion tax increase.
Biden’s written plan calls for a small business tax hike, a corporate tax hike, a capital gains and dividends tax hike, income tax hikes, energy tax hikes and even a second Death Tax on top of the first one.
Biden would increase the corporate income tax from today’s 21% to 28%. That’s a higher tax rate than communist China and France and the U.K., each at 25%.
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Author: Marty Kaufmann
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