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Biden’s plan will worsen inflation, ‘disproportionately harm minority families and small businesses’

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Republicans on the House of Ways and Means Committee put out a press release detailing how “Biden tax hikes increase burdens for taxpayers” and how the Democrat policies “disproportionately harm minority families and small businesses.”

The United States is suffering a 40-year high inflation, and Biden’s budget includes further tax hikes on Americans and over one million small businesses. His plans reverse “the gains made under the Republican-led Tax cuts and Jobs Act (TCJA)” the release states.

The press release quotes President and CEO of the Job Creators Network, Alfredo Ortiz, who testified during a Ways and Means hearing in April. Ortiz wrote an op-ed for Breitbart News, in which he wrote:

“President Biden’s recently announced budget proposes raising taxes by $2.5 trillion. He plans to hike taxes by one-third on the approximately one million small businesses structured as corporations. He also wants to raise tax rates on successful Americans and small businesses structured as pass-throughs.”

“Small businesses depend on tax certainty to bring the economy and labor market back to pre-pandemic levels. Small businesses and ordinary Americans also need these tax savings to help blunt the impact of historic inflation caused by Democrats’ reckless spending that’s devalued the dollar. This week, the Bureau of Labor Statistics announced that consumer prices have risen by 8.5 percent and wholesale prices by 11.2 percent over the previous year. Eliminating the TCJA would compound the pain of this inflation tax.”

During Ortiz’s testimony, he warned that Democrats’ threat of crippling tax hikes, inflationary spending, and persistent worker shortage disproportionately harm minority families and small businesses. “President Biden’s proposed tax increases and labor regulations would disproportionately impact small businesses, reducing their ability to expand, hire, and raise wages for minority employees.”

“Prices right now are growing three times faster than paychecks. For an average family in America, it means you’ve lost ground by about $5,700 over the last year, which is why most Americans feel like they’re financially worse off now than they were during the height of the COVID pandemic. Not a good sign. We also got bad news from small businesses yesterday. Their optimism is at the lowest ever recorded. And for maybe the same reason – inflation is just hammering them and they can’t find workers.”

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Economy

Biden’s 60 Minutes Interview Horrifies White House: ‘Does NOT Reflect the OFFICIAL Position’

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Uh oh. Someone let President Joe Biden speak by himself again and damage control immediately ensued. President Joe Biden’s “60 Minutes” interview which aired on CBS Sunday was 60 minutes of pure torture for viewers and 60 minutes of pure angst for the White House; everyone but the president himself.

60 Minutes’ official Twitter account publicly called out the President’s answers with an embarrassing statement that his own administration was in disagreement with him:

“President Biden tells 60 Minutes that U.S. men and women would defend Taiwan in the vent of a Chinese invasion. However, after our interview, a White House official told us that U.S. policy on Taiwan has not changed.”

CBS’ Scott Pelley also discussed inflation; an issue drastically affecting the welfare and wellbeing of families. Biden deflected with zero sympathy:

As for President Biden’s son Joe, he is sticking with the narrative that Hunter is the “smartest” person he knows and that “there’s not a single thing that I’ve observed at all that would affect me or the United States relative to my son Hunter.”

Biden also said that while the “proof of the pudding is in the eating” in response to being asked if he is fit to be President, Biden did not commit to saying whether or not he will run for re-election. His “intention” is to run again, “but that’s just intention” he said. “Is it a firm decision that I run again? That remains to be seen.”

 

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