Trump continues to hammer the RINOs in the Senate GOP.
President Donald J. Trump:
"The Republicans in the Senate have the cards, including political cards, to stop the onslaught of Democrat Legislation that will further lead to the destruction of the United States. pic.twitter.com/vVf1A7PwYH
— Liz Harrington (@realLizUSA) September 27, 2021
“The Republicans in the Senate have the cards, including political cards, to stop the onslaught of Democrat Legislation that will further lead to the destruction of the United States. The 19 Senators who voted for the (non) Infrastructure Bill, of which only 11% is infrastructure as we know it, have created a big setback for Republicans. They can’t make mistakes like that again. They must play every card in the deck!”
Biden’s agenda will kill 5.3 million jobs.
It will also generate $4.5 trillion in debt.
President Biden’s big government legislative agenda will kill 5.3 million jobs and generate $4.5 trillion in debt, according to a Monday study by the Texas Public Policy Foundation.
The study also suggests the United States’ gross domestic product (GDP) will be reduced by $3.7 trillion, nearly the cost of the massive $3.5 trillion reconciliation package.
Biden’s legislative agenda will additionally cost American families a combined $1.2 trillion in reduced income via tax increases to pay for the costly package, the study reveals.
The Texas Public Policy Foundation’s study summarizes the following impacts of the tax and spend agenda:
Top marginal income tax rates with federal, state, and local taxes are over 65%.
Corporate tax rate up by a quarter to 26.5% for third highest combined rate of 30.9% in OECD.
Marginal tax rate increase of 13 percentage points on some households.
Capital gains tax rate up by 25%.
Marginal income tax rate on some small businesses raised by 24%.
Multiple severe marriage penalties are imposed.
Effective tax rate on large estates before state and local taxes is 61.1%.
Taxes raised on tobacco and vapor products, primarily used by those earning less than $400,000.
International taxes on businesses raised by over 20%.
$6.89 tax raised per barrel on imported petroleum and increase tax with inflation.
Capital gains tax rate increased, unrealized gains taxed at death, death tax increased, and step-up basis eliminated.
Cap on SALT deduction removed.
Redistributing $6.2 trillion in government spending slows growth.
The Palmieri Report is a Pro-America News Outlet founded by Jacob Palmieri. The Palmieri Report is dedicated to giving people the truth so that they can form their own informed political opinions. You can help us beat Big Tech by following us on GETTR , Telegram, and Rumble.