The Reality of Biden's "Tax the Wealthy" Plan

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The Biden administration maintains that under the new plan, no one making $400,000 a year or less will see their taxes go up. I am starting there because the statement is completely false. This is in reference to the latest of spending sprees proposed by the Biden administration which includes $1.8 trillion in "investments" and tax credits aimed at children and families, and a $2 trillion infrastructure deal. Let's set aside the fact that when you look at the infrastructure deal, it's basically a package for a lot of other things with a sprinkling on of actual infrastructure. But that's for another day. Why is the statement false? "Look," you say," I READ it loud and clear that Biden will ONLY raise the taxes on those making $400,000 a year." And that MAY be partly right. It MAY be partly possible for him to do that. Ultimately I doubt it. But EVEN IF it were true people are missing one very important point here when it comes to taxes and how they work at the top. Businesses and wealthy people do not PAY taxes. They essentially RECOUP them. In other words, the taxes that these people pay is simply passed along in the form of higher prices for the goods and services they sell. It is always that way, and will always BE that way. YOU may not send the check to the IRS, folks. But when you pay that 30 cents more for your eggs and $1 more on a loaf of bread and $1 more for a gallon of gas and 80 cents more on a gallon of milk... That's tax you didn't get taxed that the wealthy got taxed that they charged you to shell out more of your money for for the same goods and services that were cheaper BEFORE the tax. I will never, for the life of me, understand why people cannot wrap their head around what is a very simple concept. Don't think so? Have you seen prices since Biden took over? Everything is higher. And the taxes haven't even been raised yet. Businesses are already raising prices in anticipation of higher taxes.