Joe Biden Increasing Taxes...?
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To be fair, I don't think it would have mattered who the president is when it comes to an increase in taxes. Given the factors I am looking at, there is a high possibility of taxes increasing.
There are 2 factors to look at...
Number 1: National Debt
Right now we just crossed $28T (with a T) in national debt. That comes out to roughly $100k in debt per adult. If you fast forward 4 years we will be at almost $50T. That puts the average debt per person almost $167k if we were to all pay an equal amount.
Number 2: Historically Low Current Taxes
Believe it or not, we are in historically low taxes compared to other times in our nation's history. It's not unheard of to increase our taxes to that of something like the early 80's where taxes for high income earners were 70%
#taxes #taxesrising #joebiden
