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Joe Biden President Joe Biden’s Build Back Better legislation, which passed in the House on Friday, includes a multi-billion dollar tax cut for wealthy Americans in blue states while hitting a wide swath of the middle-class with a tax hike.
The House passed Biden’s social spending bill and the cornerstone in his Build Back Better agenda on Friday morning. The bill includes provisions that hike state and local tax deductions, which overwhelmingly favor Democrat-run states, while raising taxes on up to 30% of middle-class earners.
In 2017, then-President Donald Trump signed a tax bill into law that placed a $10,000 cap on the amount of state and local taxes that one could deduct from their federal tax bill. Prior to the cap, one could deduct essentially all state and local taxes (SALT) from the federal tax bill. The cap is set to expire in 2025.
Biden’s social spending bill raises the SALT cap to $80,000 until 2031 before dropping back down to $10,000, according to The Washington Post . The benefits of such a maneuver would accrue mostly to wealthy individuals living in deep blue, high tax states.
According to a 2017 report on SALT deductions by the Tax Foundation : “The state and local tax deduction … expressly favors higher-income earners and state and local governments which impose above-average tax burdens. The deduction’s effect is for lower- and middle-income taxpayers to subsidize more generous spending in wealthier states like California, New York, and New Jersey, reducing the felt cost of higher taxes in those states.”
In total, the SALT cap raise in Biden’s Build Back Better legislation is equivalent to a “$285 billion tax cut that would almost exclusively benefit high-income households over the next five years,” according to the Post.
At the same time, the social spending bill also targets the middle class, hiking taxes on 20% to 30% of households making less than $400,000 a year. As The Daily Wire reported: The Biden administration’s “Build Back Better” spending bill would raise taxes on many middle-class families, according to a report from the nonpartisan Tax Policy Center, despite the president’s promise to not […]
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker