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Biden tax plan start at 75K not 400k There is loophole.

Disclaimer: This is only personal blog but we did collect actual facts from multiple sources please do your research please  

Joe biden's tax plan will destroy our economy. Let's talk about facts from tax foundation research. 

According to the Tax Foundation General Equilibrium Model, Biden’s tax plan would reduce the economy’s size by 1.51 percent in the long run. The plan would shrink the capital stock by 3.23 percent and reduce the overall wage rate by 0.98 percent, leading to 585,000 fewer full-time equivalent jobs. Why doesn't biden talk about it ? He is lying politician. It's amazing how much this plan will destroy our economy.   

His actual plan isn't $400k per year. It is actually at 75K per year. He is lying to the American people. (Based on multiple researches) 

Here's facts we found (Key Details that Joe Biden is hiding from all  Americans ) 

  1. According to the Tax Foundation’s General Equilibrium Model, the Biden tax plan would reduce GDP by 1.51 percent over the long term.
  2. On a conventional basis, the Biden tax plan by 2030 would lead to about 7.7 percent less after-tax income for the top 1 percent of taxpayers and about a 1.9 percent decline in after-tax income for all taxpayers on average.
  3. Doubles the tax rate on Global Intangible Low Tax Income (GILTI) earned by foreign subsidiaries of US firms from 10.5 percent to 21 percent. (China loves this) 
  4. Eliminating certain real estate industry tax provisions.
  5. Taxpayers in lower income quintiles would see an increase in their after-tax income in 2021.
  6. According to the Tax Foundation General Equilibrium Model, Biden’s tax plan would reduce the economy’s size by 1.51 percent in the long run. The plan would shrink the capital stock by 3.23 percent and reduce the overall wage rate by 0.98 percent, leading to 585,000 fewer full-time equivalent jobs.

Source: Tax Foundation 

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