Joe Biden’s Tax Hike Proposals Are Going to Be Catastrophic

Joe Biden's Tax Hike Proposals Are Going to Be Catastrophic

(ConservativeHub.com) – If former Vice President Joe Biden gets his way, the country could be run into a ditch within days of the January 20 inauguration. He plans on re-entering the Paris Climate Accord and the 2015 Iranian nuclear deal despite Tehran’s recent admission the middle eastern country is producing enriched uranium.

Biden also plans to raise taxes on corporations and individuals earning more than $400K. Biden and other liberals think deficit increases and higher taxes are “smart” leadership, whereas conservative logic argues otherwise, and rightly so.

For example, Forex News recently reported the Nasdaq 100 could continue its downward trajectory in the face of Biden’s proposed tax increases. Additionally, the Detroit News reported that taxing businesses in the middle of an economic recession would result in the closure of many businesses, which, in turn, would create massive job loss.

On the plus side, the Senate is tied 50/50, and Democrats hold the slimmest margin in the House for decades. There’s a good chance Republicans will still be able to thwart Democratic-led efforts to tax and spend.

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