There are a lot of ways to tax someone without raising their personal rates.
Bai-Den, Nancy, and Schumer have a lot of them in the "Inflation Lowering" bill.
...The bill imposes a regressive tax on American oil and gas development.
The tax will drive up the cost of household energy bills. The
Congressional Budget Office estimates the natural gas tax will increase taxes by roughly $6.5 billion....
...With gas averaging more than $4.00 per gallon across the country and
only weeks removed from record-high prices, Democrats have included a
16.4 cents-per-barrel tax on crude oil and imported petroleum products
that will be passed on to consumers in the form of higher gas prices....
...The bill would more than double current excise taxes on coal
production. Under the Democrat proposal, the tax rate on coal from
subsurface mining would increase from $0.50 per ton to $1.10 per ton
while the tax rate on coal from surface mining would increase from $0.25
per ton to $0.55 per ton....
...JCT estimates that this will raise $1.2 billion in taxes that will be passed on to consumers in the form of higher electricity bills....
...Democrats imposed a 15 percent corporate alternative minimum tax on
the financial statement income of American businesses reporting $1
billion in profits for the past three years. These American companies
employ millions of Americans.
The cost of this tax increase will be borne by working families in the form of higher prices, fewer jobs, and lower wages....
You aren't stupid enough to believe that those corporations are going to pay that tax, are you??
...When Americans choose to sell shares of stock back to a company,
Democrats will impose a new federal excise tax which will reduce the
value of household nest eggs. Raising taxes and restricting stock
buybacks harms the retirement savings of any individual with a 401(k),
IRA or pension plan.
Union retirement plans will also be hit....
... Democrats would impose a 95 percent excise tax on prescription drugs unless drug manufacturers accept government price controls.
Price controls never work because they cause supply shortages. CBO warned the reduction in manufacturers’ revenue could be as high as $1 trillion over the next ten years...
...Democrats are including a tax hike on passthrough businesses with
declared losses. This provision widens the net of taxable income.
Preliminary cost estimates from the Joint Committee on Taxation show the
provision will increase taxes by $52 billion.
This provision would raise taxes on a manufacturer, retailer or other
capital-intensive business that sees significant business losses in any
year due to the cost of wages, rent, new equipment, inventory, and
interest payments.
The loss limitation was originally created by the Tax Cuts and Jobs Act
passed by Congressional Republicans but was used to offset the creation
of the 20 percent deduction for passthrough businesses, resulting in a
net tax cut for these businesses. Senate Democrats have now extended
this loss limitation for two additional years to pay for their reckless
tax and spend spree. They did not extend the 20 percent deduction for passthrough businesses....
That erases Ron Johnson's tax cuts for small business--which probably employs YOU.
And finally, the IRS muscle-up which will add FOUR Army DIVISIONS' worth of personnel, most of which will be carrying sidearms.
...The bill would spend $80 billion to supersize IRS with 87,000 new
agents and auditors and ramp up audits on working households and small
businesses. The IRS would perform an additional 1.2 million annual audits under the plan. Democrats claim the increased spending on enforcement would net $124 billion.
The bill spends 14 times as much money for “enforcement” — such as
small business audits — than for “taxpayer services” — such as answering
the phone. IRS employees only answer the phone “19 or 20 percent” of the time....
Because seeing you shit your pants when they hit your door with the battering-ram is SO much more satisfying than answering the damn phone.
